Following the technical pattern formed in last 1 month i tried to plot bearish butterfly pattern in short time frame. The point D @ high 1467 length XA =86.65 with the help of Fibonacci ratio calculation the initial TARGET 1 and and the TARGET 2 is shown in the chart. it will be interesting to see the price action in the zone target 1 ,if the stock does not find any support at this zone the price will move straight to TARGET 2 (everything is done on basis of mathematics)
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HEADING TOWARDS TARGET 2
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good technical performance( stock following the rule) now target 2 low @1327 may be achieved in one to two weeks
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target 2 achieved ,,, now what next? bearish trend will continue or new trend will begin? major supports are 1290,1260,1240