Scrip had retraced from upper resistance line once and if retraced again forming double top pattern, can aim for Short towards price levels as mentioned in charts (Do see momentum in 5min, 15 min, 30mins before entering in intra-day)
Breakout from resistance line and trendline with higher volume surge and consolidation in "Overbought* situation like seen earlier can take it again to target price as defined in Call - 30-45 days although having dubiousness view of it gaining upwards for now
Reason for not much affirmation of upward trend - 200 SMA is still above 15 SMA and price range has gone below 15SMA so for now, there is weakness in the scrip
Taking SL as per risk appetite
Breakout from resistance line and trendline with higher volume surge and consolidation in "Overbought* situation like seen earlier can take it again to target price as defined in Call - 30-45 days although having dubiousness view of it gaining upwards for now
Reason for not much affirmation of upward trend - 200 SMA is still above 15 SMA and price range has gone below 15SMA so for now, there is weakness in the scrip
Taking SL as per risk appetite
Trade active:
for short..
Comment:
Going as anticipated, Planning to short at price level of 591-592
Comment:
Still appears to be good SHORT oppurtunity as death cross is about to occur which can cause further weakness when the short-term, 50-day moving average, also called a price trend, crosses below the long-term, 200-day moving average
Comment:
Yet there is weakness due to MACD crossover and 50-day moving average has gone below 200 average
Entry below 583
Short till 570 or even beyond
Entry below 583
Short till 570 or even beyond
Comment:
Bearish retracement going as envisioned..
Going tomorrow to enter below 576
Going tomorrow to enter below 576
Comment:
*typo - 574
