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Bearishcontinuation

Descending Triangle Breakout - Bearish Continuation PatternTATAELXSI SHORT AT 912 with a Stop-loss of 967 for The Target at 744 Risk 6% & Reward 18.43% Risk Reward Ratio 1: 3.05 Bearish Continuation Pattern Descending Triangles In this “flat-bottom” triangle, the bottom trendline is horizontal and the top trendline slopes downward. The pattern illustrates lows occurring at a constant price level, with highs moving constantly lower. Level to Watch out is 885 because it's a 0.618% Retracement level of a Major Swing, Low at 510.60 and High at 1326. If Tataelxsi consolidate around this level and losing it's momentum then it's a good chance to hold this support level. But if it's going to break the support with strong downward momentum and higher volume then we may see lower levels in a sharp fall. As per Chart Pattern Minimum Price Target is 18.40% lower form the cmp, so need to manage and trail stop-loss actively.
NSE:TATAELXSIShort
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