When I looked in to the chart it was so tempting to put a post about it. Price rejection + Over bought RSI = Trend reversal. We can go short below 425 with the stoploss of 430. Targets are 400, 390, 380 and 370. I expect the price will retrace to 425 - 420 levels before falling.
Spot on :)
There is bearish touch inspite of company having good fundamentals and showed good results in Q4FY17 (YoY) but the stock had reached near 52week-high (resistance level) so something like this had to happen
Will wait as suggested towards support level as suggested by you till it retraces back :)
vanathi
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@amankavi, Price will retrace if nifty becomes positive. Otherwise we can follow the trading plan "sell on rise".
amankavi
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@vanathi, Thanks again for the advice
True as there could be corrections seen for most of the stocks who were touching 52 week highs. Zenith is the sky eventually :)
vanathi
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@amankavi, Some traders get trapped going long when its "sell on rise". We have to be cautious :)
Trade-Wealth
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Lower time frame, i see your first post. Probably in recent times.👍👏