Dabur - Channel Pattern Top and Reversal Started - Short

Hi Guys,

Please find the detailed analysis of my view in Dabur!!!

Time Frame of Chart - Daily
Market Structure - Advance
Swing Point - Swing Low to Swing High
Last Line of Defense is Braked ? Yes
What Type of Trend? Strong Trend - EMA20
ATR Volatility? Flat
CPR? - Bullish Bias
What type of CPR? Average
Previous Virgin CPR is there? No
Trend: Bullish
Chart Pattern: Channel Pattern
Build Up happened before /after the breakout of the Chart Pattern? No
Breakout Happened? No
Breakout Happened with god volume in Chart Pattern? Not Applicable
Retest Happened? No
Whether Breakout happened near the CPR? Not Applicable
Post Retest Any Candlestick Pattern Found Inline With? Not Applicable
In Area of Value whether any trend continuation pattern Found? No
Any Candlestick Pattern Found for Reversal at Market Structure? Yes
Candlestick Pattern: Spinning Top

Support: 581.25 and 548
Resistance: - 605

Trading:

Sell : Below 581 ( Closes Below Daily TF)
SL - 589.80 ( Closes Above Daily in TF)
Target - 550
Risk: 8.80
Reward: 31.00
Ratio: 1:3.52

Trade is Favorable ? Yes

Regards,
Thenali Views.
Disclaimer: Kindly do your own analysis before executing the trade or contact
your financial advisor