Bearish Continuation Patterns

Last 4 months we saw too many bearish pattern, like Ashok Leyland, M&M, Tata Elxsi. Now some Bearish Continuation pattern is there in the market, that means more lower levels will be there in some midcaps, All these updates are there in My Telegram Channel InvestWisely

1. Jai Corp CMP Rs 88 Heading towards Rs 65
2. Tata Chemical CMP Rs 585 Heading towards Rs 540.
3. Avanti Feeds CMP Rs 335 Heading towards Rs 230.
4. GIC Housing Finance CMP Rs 216 Heading towards Rs 170
5. Rain Industries CMP Rs 100 Heading towards Rs 65

Above 6 share have the Bearish continuation patterns, that means after some consolidation of price ( of 1-2 weeks only), then again share price will start it’s downtrend. So better to stay away from these stocks for sometime or If you are holding any share then you can consider selling here and buying back again at lower levels.

• JAI CORPORATION

As per Weekly charts a Big Bearish Flag breakdown already there, so better to stay away from this, as per charts medium term support is near Rs 68. Overall stocks not able to Break previous short term High and on continuous basis it is going down. Formation of LL-LH is there on weekly charts which is again a big bearish pattern Charts attached below.

• TATA CHEMICAL

Again A big Breakdown is there, so wait for 480 for some buying, it will take 3-4 months to touch that levels. At the top levels it’s like Distribution already done in range of 760-650 and now Crash landing going on.

• AVANTI FEEDS

One of the most Bearish cases of 2018, still more pain left, I am Waiting for 220,( Long term support zone) Here main thing is GAP. If a daily or Weekly close below 300 then in 2-3 weeks it can show you 220 mark. GAP is bullish kind of sentiment, but here it is trying to close below Gap that means it will fill the whole gap and more selling pressure will be there after that, and Stock not able to close below its previous short term high, and Near about 8 times it tried to break it previous High but every time it failed.

• GIC HOUSING FINANCE

Again a Continuation pattern is going on, Lower high a indication of more fall in share price, and Breakdown already done from Bearish Flag, Heading towards Rs 175 in next 3-4 months.

• RAIN INDUSTRIES

Once a darling of all trader in 2017, now it’s dangerous, going to touch Rs 60, Same continuation pattern, not able to break it’s previous High and now sliding down heavily. The amazing thing is the target of Bearish Flag and Long term support is the same at Rs 60.

Thanks for visiting, Forward this information to your groups, so that people can learn more about Technical Charts. Technical not limited to Trading, it can tell you long term support and you can easily Average down your favorite stocks at that time.