The stock is making lower highs and lower lows indicating a bearish trend. The stock has reached support point at 1280 and it has tried to retrace 23% but failed. In coming days if the stock doesnt hold 1280 on closing basis one can initiate a short position as per the trade set up.
If it breaches 23% at 1320 one can long it for target of 1340 1470 1390.
If it breaches 23% at 1320 one can long it for target of 1340 1470 1390.
Trade active:
Trade 1 - Short achieved the target
Target 2 - Long achieved target 1 1340 and target 2 1370 .
One can put a safe TSL for target 3 or can close here as there are doji and stock might reverse from here.
Target 2 - Long achieved target 1 1340 and target 2 1370 .
One can put a safe TSL for target 3 or can close here as there are doji and stock might reverse from here.