Description
⋅ PayTm -
1. In DownTrend.
2. Was bought from 1000 in anticipation of reversal to 1300 and above but failed as 1000 broke today.
3. Sustaining below 990 would mean new shorts will enter, many buyers will be forced to exit at loss.
4. Break of 990 and failing to sustain below it and reversing would mean buying coming from below 1000 level, trapped new shorts.
4. Intraday Trade -
a. Short if sustains below 990.
Target - 950, 910. Stop 1005.
b. Buy - Breaks 990 and fails to sustain below
it. Buy above 1003, Target - 1010, 1050,
Stop - 1000.