A classic Double Top pattern has been formed on NSE:ESCORTS . A double top pattern is often formed on a previously bullish stock that is now currently showing a reversal to a bearish direction. This is a medium term positional call that is valid for 45-50 days. Interestingly, a stochasticbearish divergence (Triple) is also formed confirming an immediate fall in Escorts .Here are the levels:
Stop loss: 841
Gap up opening. Shorted at SL i.e. 541
Gap up opening. Shorted at SL i.e. 841
SL updated to 857.
Trade closed: stop reached:
SL of 857 triggerred....Loss of 2% :(