Positional Long/Reversal Setup: PVR Inox

• PVR has given a correction of ~40% from its latest High and is trading at a important make or break level.
  
  
• Current price structure is following a Descending triangle pattern, supported by the golden ratio zone based on swings from 2020 onwards.
  
  
• The daily RSI is at 28.41, indicating the stock is approaching oversold territory, which may precede a potential reversal.
  
  
• Also the CCI is at -131.31, placing it in the oversold range, which could indicate a potential price reversal.
  
  
• PVR is currently exhibiting a bearish trend however, oversold signals from the RSI, CCI and based on current price structure suggest the possibility of a reversal.
  

⚡Note: This is just for analysis purpose, please do your own research before punching any orders.

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