Marico has been falling from quite a few days and now the Sentiment of Bears are very high, as RSI is still not in the oversold region I think there is still room for a small correction, as Bollinger Bands are also contracting this show the correction won't be huge but still I am Semi Moderate Bearish on Marico because the way Bears have reacted from past two days is showing their high confidence .
Happy Trading ........
Happy Trading ........
Comment:
I was analyzing Marico again and I just saw that the candles formed are Dark Cloud Cover which confirms our Analysis and my Bearish Sentiment has a little bit increased.
Trade closed manually:
SQUARE OFF MARICO WITH A NET PROFIT OF RS 1.35