PIDILITIND SERIES OF BEARISH FLAGS !!!!
Chart patterns look apt for a short trade in Pidilite industries
REASONS
1. PIDILITIND from September 2022 has been in Downtrend forming lower highs and lower lows
2. Currently it is ,at its 3rd BEARISH FLAG pattern (gave breakdown with volume spike)
3. Previous 2 Bearish flags achieved their targets(as per pattern-pole length) without any sluggishness
4. There is DEMAND ZONE down near 2100 levels
5. SL as shown @ chart
6. Target - 2140, 2100(trail the SL)
7. Lower low formed on Friday(24 Feb) increases the probability of our short trade
Let's wait and watch how it moves!!!!
NOTE- Just Sharing my view...not a tip nor advice!!!
REASONS
1. PIDILITIND from September 2022 has been in Downtrend forming lower highs and lower lows
2. Currently it is ,at its 3rd BEARISH FLAG pattern (gave breakdown with volume spike)
3. Previous 2 Bearish flags achieved their targets(as per pattern-pole length) without any sluggishness
4. There is DEMAND ZONE down near 2100 levels
5. SL as shown @ chart
6. Target - 2140, 2100(trail the SL)
7. Lower low formed on Friday(24 Feb) increases the probability of our short trade
Let's wait and watch how it moves!!!!
NOTE- Just Sharing my view...not a tip nor advice!!!
Trade attivo
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