praveen.bhatiya

BEL Bearish Divergence and candle !

Short
NSE:BEL   BHARAT ELECTRONICS
The stock is making higher high but RSI is making Lower Highs thus telling the forthcoming weakness. It has formed Evening Doji Star pattern today confirming the possible reversal. One can short the stock here with SL high of today. Fib .618 level seems a reasonable target.
Comment: Trade is doing well slowly inching towards the target.
Comment: Trade kept me waiting for longer period however today's gap down bar reassure of reaching the target soon, continuing with trailing stop loss.

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