the stock has hit resistance trendline followed by negative divergence on the daily and hourly time frame along with a probable double top formation and shooting star on the hourly time frame.Price has also retraced 61.8% from the high and lows of year 2018.Hence one can look for shorting opportunities in the current zone. to be shorted close to 1215 for a better risk reward.stoploss close above 1217 for 5 minutes.
it is a counter trend strategy
it is a counter trend strategy
Trade active:
shorted at 1209 with strict stop loss
Comment:
wil book partially near 1191 and hold remaining at cost.
Trade closed: target reached:
EXITED FULLY AT 1191.NO OVERNIGHT POSITION.