TataChem looking good for short, ABCD pattern formed also it has taken rejection from AVWAP(Pink color line) on Daily Time frame. Also Fib Retracement level of 50% at reversal. 3 confirmations.
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Trade still not initiated, 2 halt candles made, entry only below 962
I think shorters took the stock up today and if nifty sustain above 18000, maybe 1020....or else your target 920 again.
VikasRanjane
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@shraghu2010, Yes my Short entry did not triggered looks like 1020 will come first if tomorrow high is broken. Again 1020 will be good place to short TATA Chem.
shraghu2010
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@VikasRanjane, Looks like it's going to fall below 960, looking at the market..... What do you think friend, 920 or 1020?
VikasRanjane
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@shraghu2010, I would not be interested to short TATAChem at this level. Will wait for price to close below 970 level and make Lower Low. Once this lower low is made, will wait for 1st lower high to form. This is the place where we can enter short with very minimum SL and good reward. Just Simple Dow Theory.