Fry pan bottom pattern formed by Shriram transport finance.
The pattern formed by shriram transport finance is called as fry pan pattern technically,typically because it looks like fry pan.The fry pan bottom reflects market which is bottoming and whose price action forms a concave design. The bullish conformation is STILL NEEDED. However risky traders can go long tomorrow. i.e on 11 -9-13. This pattern only shows stock has bottomed out and bears have exited the counter..But we need to be cautious because its not sure whether bears really have exited the counter or present rally is only because of index rally..conformation can be seen tomarow.
By Hari
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