MeanRevert

🔴 Stock made box or double top kind of formation in 75M around monthly pivot R2 3385.
🔴 Stock made price volume breakdown candle with volume surge of 135% of SMA25
🔴 Once stock trades and sustains below 3285 it can move towards the demand zone.

🟢 Multiple volume profiles created from AnchorSupport levels indicate stock has strong support near 2971/3025
🟢 Stock enjoys 38% Fibonacci retracement support at 2961 levels of the whole rally from 2260-3394.
🔴 Rising crude oil prices may be a trigger for some profit booking in the overstretched stock.

Comment:

Disclaimer: All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.

All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max use it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).

Trade active:

Stock broke down below 3385. Trade activated.

Trade closed: stop reached