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Downtrend

BPCL trend reversalBPCL was in a very clear uptrend from 22nd December... after that yesterday it formed a green candle with small wicks, today it opened gap up but could not retain the price and closed deep into yesterday's body. The encircled pattern is called Dark Cloud Cover. As the name suggests, a downtrend is expected after the appearance of this pattern. You can keep a target of the 200-day exponential moving average. The stop loss will be the highest high among both the candles forming the pattern. In this case, the highest high is the high of the first day (green) candle.
NSE:BPCLShort
by nandodeomkar
Nifty Short Side if broke trend line I hope nifty crossing 13600 be a false break out Hope nifty open below 13600 hope it breaks the trend line and has the good shorting opportunity I'll short 13600 CE with stop loss with 10 points as stop-loss ill update the level I enter for 1st half only ill hold is trend line break as tomorrow the option otm will get zero in the second half maybe there will be an opportunity to buy pe of 13400 with trailing stop loss with every 1 point increase ill trail 1 point
NSE:NIFTYShort
by arunprashanth888
RELIANCE: When was the last time you saw the stock down over 8%?RELIANCE sells off with a historical one-day fall of 180 points. The stock has been in a downtrend for some time and never managed a bounce back for pull-back traders to initiate a short trade. Over the past three weeks, the stock has corrected significantly from its recent high of 2300. Not to forget the fact that RELIANCE is the top-weighted stock in the bourse. So how far will it fall? This is the daily chart of RELIANCE wherein I have marked important zones of demand and supply which have proven itself in the past. On top of that, I have plotted the Fibonacci Retracement to find confluences. And yes, we do have a few of them. First, the range of (1790-1820), which is the immediate support for the stock. Considering the momentum with which the stock corrected today, we can expect a soft landing at this zone soon. It's a little far fetched, but the zone of (1600-1620) is a very strong support range for the stock, which we do not expect to get tested anytime soon, but will definitely keep in mind if things go really bad. Any counter bounce back from current prices, of course, will face multiple resistances of which the first one is at the psychological 2K level. Strategically, if you are short on the stock and making money, then it’s a good idea to protect open profits by trailing stop loss. And if you are contemplating a buy at lower levels in your cash portfolio, then a staggered approach below 1850 towards 1790 is advisable. Trade Well. Trade Wise.
NSE:RELIANCE1!
by Abhijit_Paul
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