LTIM Trendline BD and Retest Fail With King Candle

LTIM today made a Bearish Engulfing or Black Marubozu King Candle, Previously Breaking its trendline and retesting which failed today completely. RSI and MACD are Trending Down.

About:
LTIM offers a comprehensive range of IT services, including application development, maintenance and outsourcing, enterprise solutions, infrastructure management, testing, digital solutions, and platform-based solutions for clients across various industries.

F&O Activity:
Short Buildup in Futures with 5800 CE Gaining Significant OI.

Trade Setup:
It looks like a good 1:1 trade setup, with the recent swing high as a strong resistance zone, and the Trendline is also broken.

Target(Take Profit):
Around 4915 Levels for Swing Trader & Positional Trader

Stop Loss:
Entry Candle High for Swing Trader and Recent Swing High or 5800 Levels for Positional Trader.

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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.