Tata Consumer Products - Harmonic short
The stock seems to have halted its strong up-move and has made two consecutive Doji's. Looks weak as:
1) Seeing a price rejection at around 435-437 levels
2) Harmonic gives a short at 440.95
3) PCR bearish at 0.496.
4) Strong OI and change in OI resistance seen at 440-460 strikes and very minimal support seen.
Looks ripe for a good fall now. Safe to look for a downside below 425 if opening negative on 13th July'20. If moves upwards, can loof for a downside at harmonic levels - i.e. 441/442 levels
1) Seeing a price rejection at around 435-437 levels
2) Harmonic gives a short at 440.95
3) PCR bearish at 0.496.
4) Strong OI and change in OI resistance seen at 440-460 strikes and very minimal support seen.
Looks ripe for a good fall now. Safe to look for a downside below 425 if opening negative on 13th July'20. If moves upwards, can loof for a downside at harmonic levels - i.e. 441/442 levels
Comment:
This shorted from 437/438 levels to 407 low. Hope you all had a look or could trade on the same. Thanks