NSE:MOTHERSUMI
Trading in an uptrend channel. currenly it is at the bottom of the uptrend channel + good resistance support zone + important dynamic supports as well. Consider the position for few days as the it can reach the upside of the channel.
A strong 15min close below 238 can initiate short position for small target.
a 15min close above 248 can give good momentum on upside for intraday.
Note. After reaching the bottom of the channel recently it failed to make a new high. Wich can be either weakness in the script or consolidation by the formation of ascending triangle pattern. The volume on short side is greater than buyside which is a concers.
Trading in an uptrend channel. currenly it is at the bottom of the uptrend channel + good resistance support zone + important dynamic supports as well. Consider the position for few days as the it can reach the upside of the channel.
A strong 15min close below 238 can initiate short position for small target.
a 15min close above 248 can give good momentum on upside for intraday.
Note. After reaching the bottom of the channel recently it failed to make a new high. Wich can be either weakness in the script or consolidation by the formation of ascending triangle pattern. The volume on short side is greater than buyside which is a concers.
Comment:
initated short trade and achieved more than 1%