#KotakBank - 3 Black Crows

#KotakBank is undergoing long consolidation between 1540-1640 for nearly 1.5 months. It has broken the rising wedge and formed 3 black crows chart pattern on daily scale. RSI has just broken down below 45 levels too. DI plus and minus getting ready for crossover. Stock trading below short and medium term averages. Stock enjoys strong support near 1540 which is its breakout retest level. Below 1540 stock can retest 1520/1500/1470 and ambitious target of 1435.

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View negated as it never broke below 1540 and reversed its trend.