But aggressive traders can enjoy a short term bounce with a favorable risk/reward ratio.
Price near lower end of channel + circled candle showing clear signs of demand outside channel + previous resistance as target (conservative) makes this a good short term bet.
CMP 134.95 SL 133.10 TARGET 138. 40
Total trades = 2
Trade 1 P/L = -1.85 $ per share
Trade 2 P/L = +3.40 $ per share
Net P/L = +1.55 $ per share