In the chart you can find the lines and levels,
which I'm going to keep an eye on,
trade accordingly !
you can go long or short, according to price action and global factors !
11,170 is medium term support for nifty
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If you observe , the stock reacted well to this price level in the past.
In the left, you'll see that it immediately reversed
but in the right, it's failing to sustain above it.
Now, in the present,
we have got 2 very strong bearish bars indicating selling pressure.
In May, I expect more downfall.
The stock went above the trend line but failed to hold it completely by soon reversing the day's trend.
It has formed a shooting star pattern.
I'd short it with a few points above the trend line as SL.
The stock is making highs and currently in a rectangle range.
In the short term, I am looking for this short trade.
In the longer term, I'd look for buying on the lower line, or
the breakout if it seems right.
As shown in chart,
this is an important level for the stock ,
price has returned to these levels after months
with a huge upmove.
I expect a reversal from here in the short term.
If you notice, last time too it approached it strongly but then reversed.
I will look for short in the first days of May,
with a minimal SL .
Upon a certain level above the...