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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.
Thanks to Mr.Neteesh to Identify a good trade.
Comment:
Trade active:
Trade active with a stop loss of 485-490
Trade closed: stop reached
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Pre budget rally is pending in the market So anybody want to take a positional short may wait for that.
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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
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@drchandramohankk, Dear Sir please post your comment on the following link to get a proper comment from Neetesh
Please take extra vigil on all your trade.The pre Budget rally may be start soon rafter the Jan expiry (Jan 27).So any short position should closely monitored or closed before that.
Please take extra vigil on all your trade.The pre Budget rally may be start soon rafter the Jan expiry (Jan 27).So any short position should closely monitored or closed before that.
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