verma383
Short

BHARAT FINANCIAL IS A SELL BELOW 970

NSE:BHARATFIN   BHARAT FINANCIAL L
Analysis of the weekly chart reveals a price - volume divergence, which probably signifies a fading buying interest in the stock at current levels ( Volume 20-SMA has a downward tilt with a relatively steep slope). A strong distribution candle has been formed for the previous month. The chart also reveals a price - RSI divergence ( RSI has formed a lower close unlike price) which is a sign for bearish reversal. I recommend to short the stock a levels below 970 with a modest target of 900 & stop-loss at 1015 (mid-point of pivots R1 & R2). Given BHARATFIN's weekly volatility of 6.20%, the target seems achievable in coming 1-2 weeks.
Trade active: Testing minor-term support at 949...
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