India, Jan. 12 -- The Stock after a phase of sideways consolidation in recent sessions, has formed a rectangular channel pattern on its 2-hour chart, with a downside breakout indicating a potential bearish continuation. The rectangular channel pattern represents a consolidation phase where price oscillates between parallel support and resistance levels. A decisive breakdown below the lower boundary signals a bearish continuation, indicating that sellers have gained control, and downside momentum may accelerate.

On Friday, Radico Khaitan formed a lower-high structure within the rectangular channel before decisively breaking below the key support at Rs 3,060. This breakdown, accompanied by subdued buying volumes, confirms the emergence of ...