PIDILITE - Double Top + Trendline Break

20 мар. 2017 г.

The stock has shown a classic double top pattern and a trendline break.

Previously there's a huge buying interest being shown in the stock, so be careful before shorting it straightaway, might prove to be a pullback.

I have drawn blue lines which are important levels according to me.
See how price reacts on reaching those levels and build positions accordingly.

Sharing if it helps :)

21 мар. 2017 г.

Заметка

Good to see how perfectly it has been playing out till now.

22 мар. 2017 г.

Заметка

As suggested in comments yesterday, "structure indicates that it has much larger probability of going downwards. "

It did. Structure is very important.

23 мар. 2017 г.

Заметка

Structure weak. Dont make long positions.

24 мар. 2017 г.

Заметка

Very choppy. Uninteresting to make any position.