Besides weakness on charts, there is a news about telecom tariff hike.
The news looks positive for telecom companies on the onset, but more than often, stocks rise in anticipation and fall when the news is out.
Trade with CAUTION, following the stoploss.
Low risk traders may trade using options i.e. shorting OTM calls or creating diagonal spreads strategy.
1600 strike is good to shorting CALLs, as there is a huge open interest built up.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications, consult some financial adviser before taking any positions. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
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@Jitu32, you may be right but reading technical signals and acting as per them never fails. the sell signal was "BELOW 1546" which never happened. Trust me you can do short term trades on the basis of technical analysis only.
ipuneet
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@ipuneet, I guess it opened above 1573, i.e. the S.Loss price, so the call got negated at opening itself. The technical reading worked pretty well is my stance.