NIIT Technologies Short position suggested. Reasons:
1. Three black crows candle formation
2. Increasing open interest with with falling price suggesting short positions
3. Second time hitting 200 SMA as well as EMA from above and closing below it.
4. RSI falling and in weak zone
Short trade suggest. Follow VWAP trade and have a watch at open interest data....
BPCL continues downtrend. expected to be heading towards 340 level.
Negative indicators include:
1) CCI below 100 crossing from above
2) New Shorts initiated with falling price but increasing open interest.
3) William %R below -20 crossing from above indicating bearish
4) Increasing Oil prices result in more under recoveries. Subsidy burden sharing history might...