gnanas
Short

Short TATA METALIKS

NSE:TATAMETALI   TATA METALIKS
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3
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Close above Bollinger Bands on the day chart. Due for a correction to mid BB around 570-550 levels.
The last time this happened the stock came down around 40 points
Comment: Also, RSI > 80, STOCH > 90.
Comment: Conservative traders, please wait for confirmation. Though STOCH and BB are reliable, the stock is strong uptrend and any short should be taken as a counter-trend trade. Not as a bearish signal.
Trade closed: stop reached: Disaster
Dont you need to wait for a red candle to appear to short?
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gnanas rigibull
@rigibull, true.. the current setup is very risky. risk averse traders should wait for confirmation. Will update the idea. thanks for pointing out! I am still learning. I like the tools here to learn.
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