akshay1808

Escorts falling to 645 level?

Short
NSE:ESCORTS   ESCORTS
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 stochastic bearish divergence (Triple) is also formed confirming an immediate fall in Escorts .Here are the levels:
(T1): 791
(T2): 738
(T3): 645
Stop loss: 841
Trade active: Gap up opening. Shorted at SL i.e. 541
Comment: Gap up opening. Shorted at SL i.e. 841
Comment: SL updated to 857.
Trade closed: stop reached: SL of 857 triggerred....Loss of 2% :(

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