Ok so this rectangle size box is only hope for this stock to continue this upside momentum, I will look to short below this box and this looks good for 8-10% downside move. Actually I was long in this and just got a good exit today now suddenly it is looking good for downside too and I thought why not. Let’s see..
And guys please do your own study before any...
HBI is in a Long Lasting downtrendchannel. A nice bearish engulfing built up near the upper Bound of the channel in the Weekly timeframe that maybe Signals the end of the upside leg. Take a shortposition the next week.
After a sustained uptrend BataIndia looks weak at top. Stock after touching 1163.65 (which is 100% Fibonacci extension from the SPL of 1075) looking set to reverse its trend. Its giving divergence as per stochastic and all set to test 1138/1126/1114/1097 levels on near to medium term. Today also stock tested 1138.7 which is its 38.2% Fibonacci retracement. Its...
Wipro has failed yet again around 335 levels forming Double top in the week of 17 September 2018 and 17 December 2018 .
I can also see a large Bearish Engulfing candle for this week.
Looks like the stock is headed back to 305 levels.
Good opportunity to short with stop loss around 335.
Disclaimer: Views expressed here are my own, and should not be interpreted...
Infosys NSE:INFY has been in a downtrend since October making lower swing highs.
I can see that it again got rejected at the trendline resistance and formed a Bearish Engulfing candle.
Shorted here with stop loss a few points above the trendline resistance for a first target of 625.
A deeper correction can take it to 610.
Disclaimer: Views expressed here are...