It is been observed that the price action firstly broke from a symmetrical triangle on daily chart, indicated bearishness in the price action. Now, the price action breaking new support levels and forming lower lows, again indicating further bearishness ahead.
Target: 160
Stoploss: 175
NSE:MCLEODRUSS
Mcleod Russel is about to breakdown from its current levels after minor consolidation. Current trend is bearish and it is likely to continue with a momentum building on higher time frame. Trade with caution
Target: 140
stoploss:175
Daily volume: increased 710% of daily avg volume
Increase in open interest in Futures by 39% showing strong long build up
Near breaking downword trendline...... It is likely to break the trendline after that we can buy for intraday as well....
The price action that was trading in a downward trendline has now finally breaks out from the downward trending line, indicating high buying pressure and bullishness.
Target: 197-200
Stoploss: 175
