Humpty Dumpty About to fall- A modest compounder in makingNSE:SBIN BSE:SBIN
The Reverse symmetrical triangle about the break after no support from weekly S1 level
The next support as mentioned in the weekly also corresponds to be between 0.786 and 0.886 of the Fibonacci series ABC, also corresponds to be near the 618 or outer ML of the pitchfork..
Following the price magnet principle, the action is expected to go back to the median line of the pitchforkwhen the fibo level of 0.618 is expected to give resistance....
Also there is a Bullish Cypher in formation formation, with complements the theory..
Disclaimer.. Not invested but interested to bottom fish..
This is not a time dependent analysis
This is not an investing/trading recommendation
