Bear Flag Formation (wait for confirmation) T1: 1080 T2: 930
Might be a slow move.
Stock trading below 200 Day MA.
In the coming week short opportunities with tight stop loss can be tried.
Stop loss looks strong, moment need to kick in.
1650-1700 regions can be tested..
the same might act as a profit booking region as well..
Looks convincing. Might not be a easy one to play out.
1. Trend line break and retest
2. Took support in 20 Simple Moving Average
3. GAP to be filled as
4. Logical stop loss with a trend line support
1000+ can be the target
If there is weakness in the market opening and if there is rejection around 1200, short trade can be tried.
Idea valid only for 22nd Jan 2021.
Looks to be a high probability trade.
Futures OI is in decrease while price are going up, indicates short covering. But soon we can see long build up.
1700 could be a potential target
There is also minor W pattern formed.
After pull back 17000 looks possible
Wait for the breakout.
A Strong candle from here can take the price to 1750
At 50 DMA neat to a breakout triangle. Looks 475 will be easy target.
Head & Shoulder formation and fib retracement match.
Rejection from previous support trendline