Kotak Bank forming Bearish PIN-BAR Pattern

9 thg 9, 2016

On hourly chart, it is been observed that the price action forms bearish Pin-Bar pattern that indicates rejection of higher prices and weakness. It also states that there is high selling pressure from sellers that shall take the price down. It is also important to note that there is a GAP on hourly chart that shall be filled during the weakness. Therefore, it will beneficial to initiate fresh shorts and covering long positions.

Target 1: 793
Stoploss: 823
Duration: 2-4 days