H&S pattern with target placed around 100rs. Recovering going to take very long time. Stock in Downtrend.
Kinda H&S pattern getting formed in both weekly and monthly charts. That means more pain is yet to come after some months. Whatever bottom we find now will be temporary.
Expecting pullback till 78.6% Fibonacci level. Expecting pullback and a bounceback trade from 11830 level(which has been already reached)
Expecting price to fall till 1300 and then upside till 1400 and then fall till 1200.
Expecting down to 11430 and raise till 11680 and fall towards 11000. Broken monthly support already 11680 , expecting down till 11430(daily resistance) and retest 11680 and fall towards 11000(monthly support) Fib ratio 78.4 confirms 11000 target.
Timeframe : Daily Reasons: 1) Range bound in monthly and weekly chart. 2) In day chart making HH for upward move in range. 3) Perfect candidate to form Double top near 1530 range. 4) Double top neckline 1250. 5) If DT neckline broken can go till 973 which is coinciding with weekly and daily support.At max can go till 920(monthly support). Short @ 1530 Stoploss...