REDINGTON LTDShort
ascending wedge pattern indicating bearish movement
By technical analysis ascending wedge with contionue previous downtrend formed indicating bearish movement
wait for breakout confirm by increasing volume, short with stoploss at 96.75 , targetprice at support zone.
Further if it breaks upwards target price should be 131.00 and stop loss at supprot on trend line.
MACD indicates continuous trend upwards i.e from april to july session. While rising wedge indicates downtrend.
overall wait for breakout
wait for breakout confirm by increasing volume, short with stoploss at 96.75 , targetprice at support zone.
Further if it breaks upwards target price should be 131.00 and stop loss at supprot on trend line.
MACD indicates continuous trend upwards i.e from april to july session. While rising wedge indicates downtrend.
overall wait for breakout
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