- Stock in a Overall Downtrend
- Rejected off Daily kijun / 50% Fib Level
- Close below a key S/R level
I am short from 50% level of Bearish Pinbar on March Futures. Will add more on 6th March after more confirmation.
Also sold 111 CE @ 1.6
IOC is in a clear downtrend which gave us a nice bounce to the Kijun sen / 0.5 fib level followed by 2 days of rejection. Will be shorting the futures lot of feb 2020.
Sl = 118.30
Target 1 = 109 , RR = 2.26
Target 2 = Open and trail with daily heiken ashi candles if trade works out in our favor.
The daily candle on Mindtree printed a nasty Bearish Pinbar at a Major swing high Resistance. Expecting drop to continue.
Enter at the break of the Pin Bar or at a 50% retrace level since the stop loss is coming out unfavorable. This is a Swing Trade.