Short TATA METALIKS for NSE:TATAMETALI by gnanas

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

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