dravya

PIDILITE - Double Top + Trendline Break

NSE:PIDILITIND   PIDILITE INDUSTRIE
95 7 5
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 :)
Comment: Good to see how perfectly it has been playing out till now.
Comment: As suggested in comments yesterday, "structure indicates that it has much larger probability of going downwards. "

It did. Structure is very important.
Comment: Structure weak. Dont make long positions.
Comment: Very choppy. Uninteresting to make any position.
multiple resistance make are break zone
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dravya bearishbull1968
@bearishbull1968, completely agree with you :) hence the 2 opposite arrows ;)
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dravya bearishbull1968
@bearishbull1968, structure indicates that it has much larger probability of going downwards.
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only thing is broader markets are bullish so holding my idea to go short
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dravya bearishbull1968
@bearishbull1968, that's true. Unless GST thing is done, difficult to go short aggressively anywhere.
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dravya bearishbull1968
@bearishbull1968, nice chart :)
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