Short TataCommunication Positional

After making double top near 623 odd levels on hourly charts stock is falling. It has noticed a bearish crossover on hourly charts too. On daily charts it notices a bearish engulphing pattern. Stock looks good to short positionally for a target of 590/567/550 in short term. Maintain positional stoploss of 625 on closing basis.

Comment:

Disclaimer: Objective of this post is to educate and help all members earn profit from trading. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE/BSE/MCX market basis above recommendations. All the stock picks are momentum picks chosen using technical indicators and for education purpose only. I am not responsible for profit and losses or SEBI audits arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades or trade at your own risk.

Comment:

Hits first target of 590.