Kewal Kiran Clothing: ₹1700
A Descending triangles formation in KKCL is a bearish patterns that indicate distribution:
On break below ₹ 1619, will see₹ 1432, ₹ 1210 and a pattern target ₹890 having a confluence withthe 78.6% retrace of the last leg. Stop: ₹1824.
Contrarian view is that descending triangle I a continuation pattern…. Yes, agreed, but the...
Kewal kiran:1700 break below 1620 target 920
Where as, on trading above 1824, will negate this view.
Trading in a descending triangle ,a bearish formation that usually forms during a downtrend as a continuation pattern. but there are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation...