Waiting for another Short Trade in Cipla.

According to the chart structure the trend is negative.
Today we have an inverted Hammer type candle, the price is rejected from the resistance zone.
Personally I am waiting for a short trade the reason is that on the bigger time frames the correction is pending.

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

Comment:

As long as the price is below the retest (resistance) level we are in the negative zone. Also today we have a green candle with low high and low low. Technically this candle is not tradable.

Comment:

As long as the price is below the retest (resistance) level we are in the negative zone.