If it breaks the lower support & Sustain, possible targets are mentioned in the charts..
And ADX is in strong selling mode. If everything goes well as per our prediction, will get 100+points..
All the Best.. Have a Profitable Trade..
GBP / JPY is very close to where a fall may occur. The pair is currently in a descending triangle pattern. The buying force was amortized by the downtrend line. With the arrival of the bears with the selling force, a low candle was formed. We expect the bear kick to be strong enough to send the pair close to the support level.
- Price touched a few times...
GBP/JPY is currently stalled in a descending triangle pattern.
The recent upsurge has been capped by the resistive trendline.
It faced rejections initially but now formed a follow-through bearish engulfing candle.
Hence, we expect the bears to hop in here and send the pair spiralling down to the support level of 143.833.
PNB is forming a Descending Triangle, look for opportunities as specified on chart.
Entry : 91.5 - 92 Range (Take Stance after getting a strong closing below given range)
Stoploss : 2.5% (Closing Basis)
Basic Target: 89
Optional ways : Derivatives are best case as expiry is just 7days away.
if you have any queries regarding above idea or any other stock...
POWERGRID is forming A descending traingle , Look for opportunities at either side break of triangle
Entry : Long Abv Upper TL <=> Short below Blue zone
Stoploss : Discretionary (Closing Basis)
Basic Target: 10%
" Idea by Malkiat Singh"
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IBULHSGFIN is following the descending triangle channel and it is expected to kiss the channel support.
Even if it breaks the channel resistance, we can expect a reversal from 50 sma and then back to channel.
TATAELXSI 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
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...
Indusindbk Short below 1471
Risk 1.29% And Reward 4.42%
RR Ratio 1: 3.42
Bearish Continuation Pattern
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.
Relcapital Sell Below 221.60
Risk 5.57% & Reward 24%
RR Ratio 1: 4.30
Another Probability is, it can be turned out into triple bottoms as well but looking at the prolonged decline I personally prefer to sell descending triangle breakout rather buying triple bottoms.
In this “flat-bottom”...
DESCENDING TRIANGLE FORMING IN HDFC BANK
BUT WAIT FOR IT
BEAR-TRAP IN PLACE
BUY HERE MIGHT SEE BOUNCE BACK BEFORE CLOSING TODAY
IF CLOSES ABOVE 1920 THEN
WE WILL SHORT @THE TRENDLINE WAIT FOR IT