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Roundingtop
Short BataIndia Jan FuturesAfter 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 good to short between 1153-1170 levels with a target of 1126/1114 with a stoploss of 1177 on closing basis. Its strongly advised to hedge the positions to reduce risk on your portfolio.
#PIDILITIND - Rounding top & at imp supportPIDILITIND has formed rounding top formation on a daily chart and is currently at important support level of 775.
Hindustan Univ Pullback ProbabilityStock has broken out of a 2 YEAR consolidation phase (range) with great momentum.
Looks like its read for a pullback/retest of previous resistance/new support.
This new support matches with the 61.8 retracement level, which is also where generally reversal happens.
Lets see how it turns out to be. If the stock makes a new high: go long, and cover short if you short now.
