One of the Rare Trend Exhaustion Trade Setups where one can anticipate a potential short covering rally towards 2030 in 1-2 trading sessions. Most of the Pharma comapanies in Nifty 50 like Cipla, Lupin, Sunpharma is already in rally mode. Possibly DR-Reddy looks to join them.
Note
Not much of short covering today. Pattern holds valid for one more dayNote
2000 in spotNote
2024Note
2028. 2 more points and the pattern completes on time.Trade closed: target reached
Day high 2029.90. Pattern Completes
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.