Currently Rpower , daily chart is depicting downward price trend, leading to descending scallops. First scallop: Marked by Point A( Peak ) and Point B ( Rounded valley), downward breakout from point B was seen with high volume, this breadown also took the shape of another descending scallop. Second Scallop : Marked by Point C ( Peak )& Point D( Rounded valley) To confirm this pattern as a valid one , these two probabilities are required to keep in mind:
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Monday, February 2, 2015
NSE: RPOWER - Descending scallops.
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