Breakdown below 102
Breakout above 108
Took support of 50,9 EDMA, RSI moving up..!!!
Traders - possibility of breakout is more - Can give a good move 108 (volume must be high near breakout)
Equitas had a bad day on Monday when it came out with its results. The stock has already been witnessing some strong declines. The rallies at every opportunities have attracted selling interest. The descending trendline (pink line) shows that the resistances were maintained despite its attempt to recover. In the process the stock also formed a descending triangle...
Equitas is trading in a parallel downwards channel. It formed a bearish harami candle on daily charts. Price rejection can be seen from top of the channel. Shorts can be initiated at CMP with easy targets of 100-95-90. Stoploss can be kept at a closing above the upper trendline.