PIDILITE - Double Top + Trendline Break

Mar 20, 2017

The stock has shown a classic double top pattern and a trendline break.

Previously there's a huge buying interest being shown in the stock, so be careful before shorting it straightaway, might prove to be a pullback.

I have drawn blue lines which are important levels according to me.
See how price reacts on reaching those levels and build positions accordingly.

Sharing if it helps :)

Mar 21, 2017

Note

Good to see how perfectly it has been playing out till now.

Mar 22, 2017

Note

As suggested in comments yesterday, "structure indicates that it has much larger probability of going downwards. "

It did. Structure is very important.

Mar 23, 2017

Note

Structure weak. Dont make long positions.

Mar 24, 2017

Note

Very choppy. Uninteresting to make any position.