It is been observed on the Daily Chart that the price action is forming a bearish flag pattern, which indicates the continuation of the trend. In this situation, the price action is trending down prior forming flag pattern and now once it formed and breaks below it, indicating further weakness ahead.
Target 1: 1400
Target 2: 1375
Stoploss: 1470
Target 1: 1400
Target 2: 1375
Stoploss: 1470
Trade active:
After a gap up opening, it has started to slide down.
Trade closed: target reached:
Target 1 was met yesterday as well as Today at opening.
Now, if it continues to hold below 1470 levels then we may see Target 2 coming, and once it breaks above the 1470 levels then there will be a trend change.
Now, if it continues to hold below 1470 levels then we may see Target 2 coming, and once it breaks above the 1470 levels then there will be a trend change.
