Mild Bearish

1 thg 12, 2019

After a strong uptrend, stock made the tweezer top pattern on a daily basis. High of both days is around 941.5. Second day, a spinning top candle was made with good volumes. CMP - 926. Psychological resistance - 900. If stock gaps up, wait for the zones of 938-942 to be tested and check the price volume movement. Below 926 (high risk), short can be initiated to the target of 912. Below 912, target can be set for 900 levels. Mild divergence in RSI can also be spotted. Broader trend of the market should be considered before taking a short trade.