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.
Trade Idea: Short Equitas below 127.5
Signals:
1) Head and Shoulder on the Daily with neck-line at 127.5-128
2) Strong move lower of 4.5% creating a dark cloud candle
3) Moving Averages above the head of the candle and not too extended
For educational Purpose Only
MOMENTUM TRADE IN EQUITAS
RISE IN OI+
RESISTANCE TURNED SUPPORT++
BREAKOUT FROM INSIDE RANGE BAR+++
DEC FUT TRADE
BUY@125
STOP@122.5
TARGET@130
LOT:4000
QTY:1
EQUITAS has clearly broken down on NSE with volumes close to 31 times its average trading which gives a clear sell signal. Secondly it has broken the up words trending channel decisively.
EQUITAS qualifies a SELL around 105.15 with Stop loss of 113 and Target of 89. If you are looking for a longer time frame, it can be sold at 105.15 with Stop-loss on closing...
