Today axis bank broke the highs of the yesterday but the Gartley Pattern is still valid as it didn't beat the filter. Some of the points to note are:
- Formed double top with yesterdays and today's peaks, with volumes support (yesterday's peak's volumes are more than today's peak)
- This Double Top will be confirmed when the Rs.771 is decisively taken down (with good volumes and spreads).
- A point to note that yesterday's low and today's low are not a double bottom as the volumes at yesterday's low are significantly higher than today's low.
- Also, this should not be confused with a Channel, because the volumes are not draining, as they should be in a channel.
- We can clearly see that the positive market sentiments are pulling it up but the bearishness in the pattern is slowing the up moves.
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