vanathi

Chennai Petro - Running out of fuel

NSE:CHENNPETRO   CHENNAI PETRO CP
2
Price action of Chennai Petro shows weakness by forming 1. Descending triangle 2. Less volume
3. RSI momentum. Will update target, stoploss, entry in comment seeing price action.
Trade active: Short at 326 stoploss 328, trade along with main index
Comment: Chennai Petro forming a line. "Line indicates movement"(Dow theory)
Trade closed: stop reached: This post put a question mark and I answered it in "Volume and big game".

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