SO currently the lal path labs is on a short downward trend (minor trend )
further it can take support on the 3550 -3600 level as it is a level of value SUPPORT . Also a trendline coming from jan 1 it can support on this .
but according to my analyis it will break this current support there is some reasons for it -;
1. on a Monthly chart a good bearish engulfing...
ON a Monthly chart : It has followed succesfully evening star kind of pattern you can see on the monthly charts of it with good volume .So, on a monthly basis it is bearish to sideways as further pain is there .It also has broken a important upward trend line .
On WEEkly basis on chart: As a trend line is broken on monthly chat it can be clearly shown in weekly...
According to technical analysis it has broken a important parallel trendline of the respective channel with good volumn and also hri theory confirms it
