Amit_Ghosh
Short

Raymond Short Idea

NSE:RAYMOND   RAYMOND LTD
The ABCD setup is extended and not significant. So there may be a rise tomorrow too making it a risk setup. Combined with Elliot wave and chart patterns it looks like it is going to make a Head and Shoulder pattern.

One can short Raymond September 860CE at 39.25 or short the futures at 866 (Though it will be called as aggression as the reversal has not been confirmed. So one can wait to confirm the reversal in 15 mins timeframe.
Trade closed: stop reached
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