formation of a bullish triangle with bullish divergence in the MACD and bearish RSI so I feel a pull back to the support and then we break the bullish triangle. Measured move and target mentioned, start taking profit early and wait for breakout of bull triangle for a safer trade.
The chart has been marked with key support and resistance levels.
Based on my analysis this is a 'BOF' setup of price action. This is a momentum based Mean Reversion trade, suggested purely based on Price actions!
One can initiate a 'Short' trade at current prices. SL of 1.5 Rs (Risk) and Target of 3 Rs (Reward).
This created for educational purpose ; Please...