TheDayTrader1010

Sail Descending Triangle

Short
NSE:SAIL   STEEL AUTHOR INDIA
On a Daily Time Frame, Sail is Forming a very beautiful Descending triangle pattern. Currently trading at the resistance of the trend line . Might see a fall for next few sessions and a good fall after the successful breakout. Keep a close watch.

Comments

As Analyzed, the same trendline has acted as a resistance and the bottom line acted as the support. Despite good increase in the prices, the stock is failing to continue the bull momentum; indicating bears are highly active. Can be a good opportunity for Swing Trade.
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