Cholamandalam Finance & Investment Company Ltd - 11.02.2022
The stock is trading @ 680 levels
There is a SPINNING TOP & DOJI in Daily Chart
The prices are above EMA
There is a MACD Bearish Divergence in Daily Chart
There is a RSI Bearish Divergence in Daily Chart
Let the prices go below 671, one can initiate a sell position with support @ 684.40
On the 30 min timeframe, Cholamandalam Finance seems to be on the verge of a breakdown if it is able to break down the level of 362!!
The OI data also indicates Short Buildup!!
Once it breaks the level, the first expected stop will be 350, then 340, then 330 and the final target expected is 310 odd!!