Laxmi Organic, Chart Structure and Important Levels

The price is following a symmetric triangle pattern. Now the price is trading near the lower leg and, the convergence and degree of ema bands also indicates a downtrend could continue. Also its important to mention that the breakdown or breakout of a triangular pattern indicates the start of an trend, but for confirmation of a downtrend the price has to breakdown the level of 270 and for confirmation of a uptrend the price has to breakout the level of 300. Currently we are in the neutral zone.

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Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is for educational purposes.

Thanks
Er. Simranjit Singh Virdi