As you can see in the above chart ICICI Bank is following a pattern. Any break in the pattern will give reason for long or short.
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As mentioned in earlier post break in the pattern will give reason to enter the trade. In this case ICICI Bank gave very good entry point around 394.3 and went all the way down till 384.55 almost 2.5% movement.
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As you can see after breaking the channel how badly it is going down