Though stock had earlier broken out of uptrending channel, it could not sustain and fell back below the channel. Now after forming a wedge, the stock is likely to start its downward/corrective trend. Selling shall intensify once 220 is taken out. SL 240 (should hold for atleast 15 mins).
Trade active:
Stock had done 224 yesterday. Sell only on rallies and continue taking trading profits. I believe if market is correcting, commodities will follow soon.