Chennai Petro is falling knife for traders who want to make out of minor reversal in the trend. Minor bounce can happen till 217-218 but actual buying should emerge around 180 & 165 level for Mean Reversion play. Stochastic is already in oversold zone which indicates a bounce is likely to take place in next couple of sessions. Trader should wait for low of...
HEG has seen a sharp correction from near 5000 level to below 2000 level and then went into consolidation mode. All this fall and consolidation have leave to emergence of pennant on daily chart. MACD is trading below 0 line but positive crossover has been witnessed. on upside level 2320 and 2650 would be the resistance level. Close past 2320 would negate Pennant...