Daily Trend : Down
Weekly Trend : Down
Reason for changing weekly trend:
1. Price with in the Resistance zone of 6098 - 6010
2. Price breaks above the resistance and failed to sustain above the level.
3. Volume confirms the price.
4. Bearish engulfing pattern on daily chart.
Conclusion
This price is with in the range 6098 - 6010. This is high probability shorting opportunity because price has a bullish trap behind it.
Notes: Friends this is analysis. Trading has to be planned based on Market Analysis, Stock Selection, Stock Analysis, Trading strategy, Trade Management and Risk management.
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