ExitLongs

🔴 Stock formed a rounding top formation in daily scale with resistance around 1500.
🔴 Stock noticed price volume breakdown with daily volume 150% of SMA25 average
🔴 Stock closed below the volume profile POC of 1423 and value area low of 1396
🔴 On weekly it formed bearish EveningStar pattern & stock closed below 2 week low.
🔴 Can extend weakness if trades and sustains below PDC 1385. Good to book longs.
🔴 ADX shows signs of cool off after a big rally. 1500 is short term top till taken out.
🟡 Next immediate neckline support placed at 1362. Below which it can test 1200.

Comment:

Disclaimer: All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.

All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max use it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).

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Update

🔴 Stock is down by 100 points almost. One may #TrailSL #RideTillEnd