SELL ASIAN PAINTS CMP:1143.6 TGT: 1121 SL: 1157 (INTRA 9/6/17)
Bearish Engulfing pattern formed with significant volume. Closed near day's low. MACD in imminent bearish crossover. Aggressive trade, keep trailing stops and use indicated zones to book profits. Dow theory suggests that this could be the completion of Double top pattern with significant resistance at 1170 levels
Trade closed manually
Profits booked near 1130 levels
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.