Short

ORIENTAL BANK - Triple Top Formation

Updated

The stock has formed a doji on having a triple top formation.

Volumes in this stock has previously also failed to follow up with good rallies.

Can be looked to short below the trendline.

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The 15 min chart shows above average volume.
Take this into consideration too.

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Hence, go long in the case of breakout with good volumes.

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Volumes don't matter in this stock . Proven today again. Classic reversal from triple top and trendline has been broken. Unless it sustains above the line for a while, stock's weak. Shorting opportunity.

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Closing above the line. Not weak. No shorts.

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23 Mar : As suggeested , no shorts to be taken. It has given good follow through. Initiate longs, shows good signs of strength.

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Longs initiated have given 3 % gains today.

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7.5 % up today. That's great :)

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Lesson revisited : Volumes do matter as always.

dravya

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