Descending Triangle pattern has been observed in JSW steel.
A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows.
Since 13th of May this stock is making lower highs against taking the consistent support at horizontal line.
Pro Tip :- Once this stock break down its level of Horizontal line, which is created at 163. We expect a good falling rally till 155. where it has already taken support previously.
Thanks
Sagar
A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows.
Since 13th of May this stock is making lower highs against taking the consistent support at horizontal line.
Pro Tip :- Once this stock break down its level of Horizontal line, which is created at 163. We expect a good falling rally till 155. where it has already taken support previously.
Thanks
Sagar