It has triggered a Bearish Ichimoku C Clamp in daily time frame which suggest a retracement till 615. In hourly its making a Bearish Diamond Pattern indicating 615/600 on break of 638. View would go wrong above 653
READ THE CHART
-PLEASE DONOT FOLLOW THE CHANNEL THE TRENDLINE IS JUST DRAWN FOR PREMATURELY TO FOR TESTING PURPOSE
-NIFTY MIGHT OPEN NEAR 10300-350
-MIGHT RUN INTO HURDLES
The pair ratio was consolidating for 3 years (Nov'16 - Oct'19) in the range of 3.899 - 5.030
It broke down in Oct'19.
161.8% retracement of the above consolidation was at 3.201. The ratio made failed attempts to breakdown below this level, only to revert back to 3.899.
The ratio has again reached (almost) the same retracement level of 3.201, with RSI making higher...
ESCORTS nnon stop move hit reistance and also formed a bearish daily bar, any upmove to 920 can be shorted with SL above 920
for targets of 835
can correct without rebound also
![HEROMOTOCO: [Diary] Hero Motors](https://s3.tradingview.com/t/TpI8XB6t_mid.png "[Diary] Hero Motors")
