Karnataka Bank : Potential Bearsih Bat Pattern

The analysis is only for educational purpose.

• 
  AB leg can retrace between 38.2% – 50% of XA leg - Satisfied
  BC leg can retrace between 38.2% – 88.6% of AB leg - Satisfied
  CD leg can retrace up to 88.6% of XA leg -Close to 88.6 %
  
  

In Daily chart, 3 candles rejecting Rs 120 price area.
But higher close on each candle suggest bullishness. Wait and trade only if price cannot breach 121 levels in next few days.

Thanks

Trade closed: target reached