Jindal Steel Short for Day trading

59 6 3
Sell Below 124.50 Target 122.50 SL 126
for day trading only
Comment: Please note its on up trend in Monthly Chart , it will have small retrace which can be benefited for day trade if price moves upward that means trade not valid
it seems a pullback of sorts....
@GRINDELWALD, Last week Candle represents the entire week price was in control of seller or bearish , but eventually last day buyers stepped in and brought the price to near of opening price , You can see the low is very long tail , its called bottoming tail or Hanging man it appears when buyers push the price up form lower level
sir last week candle shows a red candle in an up trend....mayb next whole week it might be a green candle....
and the huge difference in the close and low of previous week candle.....
cup and handle on higher intervals chart.....
@GRINDELWALD, Yes You are absolutely right , Patterns and price action both are in Up trend , but for short day trading its call for retrace , after long bullish candle you will see small retrace , its the same for Monday , Not necessarily it should happen like it is explained but it is also one of the possible trade that is all
hi sir....i think this stock will form a cup and handle pattern....since it has been in a downtrend for a very long time......mayb!!!!!
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