The following all the sign of down break out but the price is still in the channel.
Gap has been seen in the value area.
The price spike also still in the channel.
Volume raised with price fall.
The Gap has been seen, and spike with raised volume which very important for a trader. If this is down breaking out, the price can still 100 points to 148...
INDIGO broke trendline and has retested from below and has got rejected for now..
also it has broken above the falling trendline connecting from previous short term highs
right now it is the middle zone zone of both the trendlines.
see chart for info
move below 1550 can increase selling pressure on the stock.it has run from 700 to 1600s..
Indigo is taking support at its swing low. The trend is upward. Though RSI is showing Class B Bearish divergence, I have a long bias as the trend is up and because of the Indian Election favourable exit poll.