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.
Comment:
Not much of short covering today. Pattern holds valid for one more day
Comment:
2000 in spot
Comment:
2024
Comment:
2028. 2 more points and the pattern completes on time.
Trade closed: target reached:
Day high 2029.90. Pattern Completes