NIIT Technologies - Forming Inverted Cup & Handle pattern
Updated
Cup & Handle Pattern being formed on daily chart of NIIT Tech, currently trading around support line, if breaks & sustain below support line of 1060 then we can expect sustained down trend for coming weeks, once it confirms of breakdown below 1060 then one can expect it to fall another 10-15% in 2-3 weeks and 30-35% over the next few months, Must trail sl at 100 Day Moving average on closing basis post breakdown.
On other side if it gives any bounce back before the breakdown then also one can go short around 1170-1190 with sl around recent high of 1240.
On other side if it gives any bounce back before the breakdown then also one can go short around 1170-1190 with sl around recent high of 1240.
Comment
NIIT Tech 1190 to 1100 now, 9% fall, trail sl you sl and carryComment
Book out full profits in NIIT Tech fut short @ cmp 1190-1195, shorted @ 1190, solid 75,000 per lot gain, Short again if it breaks below 1060 or on rise around 1180
Comment
NIIT Tech 1040, wow.
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