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JD is forming a head and shoulders pattern on a declining volume after a parabolic move .
Can go short at CMP with a stop loss of 700 and targets of support level of 700 and 675 .
JD IS RETRACING THE EARLIER PRICE MOVE IN DAY CHART. FIB CHART SUGGESTS THAT 687 LEVEL.
HOURLY CHART SHOWS BEARISH AND IS SHOWING PRICE LEVELS OF 709.
15 M CHART INDICATES NEXT DOWN MOVE COULD BE 709 IF 723 LEVEL IS BREACHED.
SHORT CAN BE DONE AT 740 TO 747 LEVEL.
KEEP STOP LOSS AT 750.
Likely chart path.
Of course, only after considering global market futures opening on Monday.
1. Yellow path considering market rise or Nifty steady
2. Orange path if markets correct.
Currently, yellow most likely as niftyit is likely to have northerly bias in next trading session.
Decision on long or not is to be taken based on the breakout...