Short CUMMINSIND as it has formed an Engulfing Candlestick Pattern which has Engulfed previous 2 Candles
The Candle is also similar to Bearish Marubozu which show high confidence of Bears
Pivot Point's Support 1 is also penetrated
The Trend line is about to get broken and we may see a good penetration of that trend line as Bollinger Band is expanding
RSI is at 31 level which shows it's ready to go into the oversold zone.
This trade has a very high probability of hitting its target.
Happy Trading.......
The Candle is also similar to Bearish Marubozu which show high confidence of Bears
Pivot Point's Support 1 is also penetrated
The Trend line is about to get broken and we may see a good penetration of that trend line as Bollinger Band is expanding
RSI is at 31 level which shows it's ready to go into the oversold zone.
This trade has a very high probability of hitting its target.
Happy Trading.......
Trade closed manually:
SQUARE OFF THIS TRADE AS WE ARE CURRENTLY HAVE NET LOSS OF RS 6.8