PVR Cinemas - Bearish call
POSITIVE SIDE:
1. If the market starts with a bloodbath as it happened for the last few monday, we can expect PVR to turn bearish. Corona lockdown is another such indication for the bearish movement.
2. Wait for the support break. Most probably it has to break when the market starts with a bloodbath.
3. Target 1 is a easy reach. If the moving average 20 & 50 collides after the target 1, we have high chance of reaching Target 2.
NEGATIVE SIDE:
1. U Shape has been formed, indicating bullish movement if the retest has been confirmed. So, wait for the support to break. And make the decision according to the market flow.
1. If the market starts with a bloodbath as it happened for the last few monday, we can expect PVR to turn bearish. Corona lockdown is another such indication for the bearish movement.
2. Wait for the support break. Most probably it has to break when the market starts with a bloodbath.
3. Target 1 is a easy reach. If the moving average 20 & 50 collides after the target 1, we have high chance of reaching Target 2.
NEGATIVE SIDE:
1. U Shape has been formed, indicating bullish movement if the retest has been confirmed. So, wait for the support to break. And make the decision according to the market flow.
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