Karnataka Bank : Potential Bearsih Bat Pattern

١٦ يناير ٢٠١٩

The analysis is only for educational purpose.

• 
  AB leg can retrace between 38.2% – 50% of XA leg - Satisfied
  BC leg can retrace between 38.2% – 88.6% of AB leg - Satisfied
  CD leg can retrace up to 88.6% of XA leg -Close to 88.6 %

In Daily chart, 3 candles rejecting Rs 120 price area.
But higher close on each candle suggest bullishness. Wait and trade only if price cannot breach 121 levels in next few days.

Thanks

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