Route Mobile - Short

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Welcome to Thenali Views,

Route Mobile Which was consistently performing was braked the trend Last line of Defense.
Trending Move Candle was getting Smaller and retracement Candles are getting bigger.
Script was moving in the Channel Pattern and script may break the market structure on forming Lower High and Lower Lows.

Script was closed below the CPR today and hence, the downside move may have significant move.
MACD on the Higher time frame was crossing over the signal line which represent the selling pressure.

Trend Line may act as support since the pattern which the script was moving is parallel channel .

Support: 1985 and 1631
Resistance: 2296
Trend Line : Support: 1844
Last line of Defense: 2010

Sell: 2015 ( Retest)
Target 1 - 1844
Target 2 - 1650
SL - 2071.25 ( Closes above in Daily Time Frame)

Thenali Views
Disclaimer: Kindly do your own analysis before executing the trade and also consult your financial advisor.
I am not a SEBI Registered Analyst and this analysis for the educational Purpose.


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