arjunkapoor

JustDial Analysis. Possible shorting opportunity

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NSE:JUSTDIAL   JUST DIAL LTD
BULL:
Stock in uptrend with strong momentum.
Taking support from the resistance level 610.

BEAR:
Its history. Every time stock reaches this level, it does so by good green candle. The red forms up and price reverses.
Shooting star is formed at 4 hour chart.
Taking support from the resistance level 610. Possible bull trap.
In areas of low volume in volume profile . Might get back to higher volume range of 575.
Last red candle was on good volume and good up side resistance in last three candles.
MFI and RSI in oversold areas.

Conclusion:
Short below: 605.
Targets: 575.
Stop: 653.

Bad RR.
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