Long if it breaks the high of the previous day with a stop loss at the previous day's low.
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...
After a sustained upmove stock looking weak at higher levels. In an rising market stock failed almost 200 in last two trading sessions. Looks good to short PEL for a target of 2500/2440/2360 in short term. Maintain positional stoploss of 2654.