Expecting M&M to continue the downtrend as it has retested the 200 EMA
DISCLAIMER : All the articles posted are for analysis purpose only , any trade taken shall be under your own analysis and risk
Based on today price action there might be a formation of double top which would further confirm the short position ....
Will get to know in coming days whether this double top becomes valid
There is 200 EMA line retesting , price action and DT formation which together are three reasons for making this a high probability trade .. but however there is earnings release tomorrow and market could swing in any direction ...
If the trade goes against then will book the loss and stick to the plan