praveen.bhatiya

Pitchfork and 3 Drive on Top SHORT

Short
praveen.bhatiya Updated   
NSE:BPCL   BHARAT PETROL CORP
The stock has formed 3 Drive on Top pattern and we can see the similarity at distribution Zone at top 2 and 3. It is also touching the upper Median line thus giving a good entry for shorting the stock. Those who could afford the stop loss of 745 can short it now and expect a target of 650.
Comment:
Trade did extremely well after initial tried by smart money to shake the confidence of weak traders.

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.