Breakdown below 102
Breakout above 108
Took support of 50,9 EDMA, RSI moving up..!!!
Traders - possibility of breakout is more - Can give a good move 108 (volume must be high near breakout)
The Chart has nicely formed the Head & Shoulder pattern and closed below the Neckline. It seems a valid pattern that gave breakout and one can use the current pullback to short the index for a good risk to reward ratio.
The stock has been into a very tight congestion since last 7 months, previously an attempt to breakout was made but failed. From last two sessions the stock is attempting breakout again! What is important to notice that the last swing leg didn’t test the lower line of the rectangle, it indicates valid buying is taking place in the stock. 210 if saved on closing...