Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
This one is Getting weak in price moves and once it brakes the Structure one can look for sell set up and very high likely it will make to the forecast
LEVELS MENTIONED IN THE CHART.
Disclaimer:
It is very important to do your own analysis before making any investment based on the chart mentioned here.
Trade wisely!
CEAT bouncing from same zone on weekly chart.
Trendline breakout
Indecision near the zone in previous week
Selling volume down
CMP - 1110.55
T1 - 1184
T2 - 1240
T3 - 1320
SL - 1008
NSE:CEATLTD
Ceat Ltd : Morning Star on Weekly chart which is a good reversal setup.
If starts trading above Friday high then we can expect good upmove in week ahead.
NSE:CEATLTD formed double bottom pattern with 1138 as its neckline. RSI Bullish Divergence can also be seen with pivot R1 of this month and prior gapdown acting as resistance. Highest call OI is at 1150. So, based on above observations NSE:CEATLTD will be bullish if it sustains above 1150 with good volume. If it reverses from R1, it can fall until Central Pivot Point.
