Trading at the top of the longterm downward trend line from 2011 TATASTEEL form a bearish butterfly at the top of trend line in the last 3 months price action.The stock can be shorted here as Risk reward ratio is very very low.Actually the idea was from Mr.Neteesh Jain who mistakenly quoted it as a long.
Thanks to Mr.Neteesh to Identify a good trade.
Trade active with a stop loss of 485-490
Neeteshbhai, I find UPL is also forming similar pattern and I am not very sure. Can you please look into the chart and guide so that I can learn.If does not fit as bearish butterfly pattern the reasons for the same.Regards