WOCKHARDT
FORMING HUGE DESCENDING TRIANGLE...

This stock is forming a huge descending triangle patter on daily charts. Now this stock holds strong support at 318 which is June 06 lows. Triangle pattern begin eversince making the high of 555. The stock hads a fall from 555 to 318 and then got retraced to 436 which is the exact 50% fibo retracement of the fall of 555-318. And now heading slowly to retest the 318 level. If the 318 level couldnt hold then we head for new lows.