Signs of reversal: RSI breaking 52-56 zone on the up-side and prices clearing the averages.
Short covering expected to unfold, stock should witness a sharp move to 965 initially. Ideal stop would be 928.
The stock has reversed its downtrend since the high of 894. After the reversal, the stock finding support at 38.2% shows further inherent strength in the stock. Any dips till 680 are only buying opportunities. But for someone who wants a tighter stop can use 704 as stop loss. Target 788.
The stock has reached the upper end of the Trading Range, a point where one just cannot jump into buying. Still, a potential short opportunity exists, but the trigger to go short happens only below the most recent low of 1270 .
Once it starts going below 1270, one can initiate a short with a stop around 1275 (or depending on one's risk capacity) for an initial...
The stock is following a pattern, according to which it is expected to trend lower to atleast 240.
With a tight stop of 256 on hourly basis, one can initiate a Short here for 240.
The short bias would remain valid till the stock decisively clears 260.