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Trade-Wealth
Jul 12, 2017 2:43 AM

Resistance & Bearish Engulfing Short

AUROBINDO PHARMANSE

Description

Short AUROPHARMA for target of 680, 670, 660. Stop loss 710.

Trade active

Trade active

Comment

Will it retrace towards 660 before making any up moves.

Trade closed: stop reached

Comments
shiv2798
You can also call it walking along the side , you can view the 20 SMA in BB is also pointing upward its not even flat , so just have a another look sir
Regards
Trade-Wealth
@shiv2798, Bro RSI above 75 after September 2016. That is also concern for short, let see how it works for us
shiv2798
@mdhaamu, Sir RSI is not advised for Trending Market , it will stick to OB condition , RSI is developed only for Ranging Market , or Side way Market , the tool is developed to trade BOX range by the inventor , he clearly mentioned not for trending market
But unfortunately Many miss read the interpretation
Regards
shiv2798
I think the Gap has to brake in order to consider the Short , because if Institutional hold the gap as support and start pushing the price then everything will be up side down
Regards
Trade-Wealth
@shiv2798, Bro 700-725 Resistance zone as per chart. Lets see how it behaves.
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