Brearish Diamond in Chambal Fertilisers. #short

2022年5月2日

Fundamentally, the scrip is strong, but the technical chart is weak. There is RSI divergence on the weekly chart, favoring downside moment. On weekly chart triple doji at the top, indication of bearishness. The rare diamond structure is found on daily chart, indicating bearishness. It's a good candidate for short from a technical perspective.

Target on the downside 410.

Disclaimer: For educational purpose.

2022年5月9日

註釋

I have booked my profit. Although, earlier I was expecting 410 as target, but because of low volume I decided to close the trade. This scrip may reverse or stay here at 430.