NIIT Technologies Bearish trend

NIIT Technologies Short position suggested. Reasons:

1. Three black crows candle formation
2. Increasing open interest with with falling price suggesting short positions
3. Second time hitting 200 SMA as well as EMA from above and closing below it.
4. RSI falling and in weak zone

Short trade suggest. Follow VWAP trade and have a watch at open interest data. Price trading below vwap with any increase in open interest will confirm short trade with maximum 130 point lower trade from 22 nov closing price.

Disclaimer: Above analysis is only for Educational purpose. Trades subject to market risk. Trading Motto: "Risk comes first and rewards follow."
Trade closed: stop reached: Idea closed as 200 SMA and EMA acted as resistance and stock bounced back.


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