HBI is in a Long Lasting downtrendchannel. A nice bearish engulfing built up near the upper Bound of the channel in the Weekly timeframe that maybe Signals the end of the upside leg. Take a shortposition the next week.
ALBK is bearish engulfing and with higher than usual volumes. and Fresh Short positions initiated. SELL Alahabad Bank (ALBK) at 43.90 with Stop-loss on closing basis above 46.90 and Target 1 at 40.5 and Target 2 at 35.45
AXISBANK lost 3.5% on NSE with 4 times its average volumes. Its trading below Ichimoku Cloud signalling further weakness in the stock.
Sell AXISBANK around 503 with Stop-loss at 311 and Target 1 of 482 and Target 2 of 478
Here, is a potential short setup.
I'll go short on PNB tomorrow , only below 145, if it stays above it, no trade entry.
If it's below at 144, I'll go short :
A part for intraday,
where I'll keep 1 point stoploss
and target according to movement.
And the other part for positional,
where stoploss would be 151 ( 7 points ) and
target 132 ( 14 points )