praveen.bhatiya
Short

Tatapower SHORT Doji Star confirmation RSI

NSE:TATAPOWER   TATA POWER CO LTD
White candlestick followed by a Doji with a gap up at the opening formed bearish Doji Star(on 29.03), which gave confirmation yesterday. RSI is telling the stock is in oversold zone and running out of stream. Moreover there is possibility of trend reversal which is quite often after forming 5 pivots but that needs confirmation yet. One can short the stock by providing stop loss little above the recent high so a low risk trade.
Trade active: Trade is doing well continue with trailing stop loss. I've moved down to breakeven level now.
Trade closed: target reached: Closing today with reasonable profit. :)

Comments

is it over bought are over sold?
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praveen.bhatiya bearishbull1968
@bearishbull1968, Thanks for pointing it was overbought at the time of recommendation.
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if planning to short for 5 april than it's well and good....but one need to wait for 2 -3 days more for confirmation...
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praveen.bhatiya GRINDELWALD
@GRINDELWALD, Thanks !
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