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praveen.bhatiya
Apr 4, 2017 6:19 AM

Tatapower SHORT Doji Star confirmation RSI Short

TATA POWER CO LTDNSE

Description

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
bearishbull1968
is it over bought are over sold?
praveen.bhatiya
@bearishbull1968, Thanks for pointing it was overbought at the time of recommendation.
GRINDELWALD
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...
praveen.bhatiya
@GRINDELWALD, Thanks !
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