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ChennaiPetro | Short | Target 80 , SL:90

Short
NSE:CHENNPETRO   CHENNAI PETRO CP
#CHENNAIPETRO #TF_1D #Flag #Penant #Wpattern

Q1 Results : posts lesser growth. Chances are it will trade towards the lower trendline which gives us a chance to short with a target of 81-80.
SL : 90

Please note this is my view. Request you to consult your financial advisor before investing.

Comments

Q1 Results were quite Good! High Chances for it to have a Massive Breakout post Q1 results, Bullish on weekly time frame too. Why would you think of Shorting a super Bullish stock? 82 is a strong support and this potential to go 120+
Reply
@T_Harth, The analysis is only for ultra short term within the triangle highlighted, post which it should be bullish for Long positions
Reply
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