jindal steel bearish engulfing candle
the stock har given signal of very strong bearish candle
MY VERDICT
1)overall the market is correcting ,and jindal steel had awsome rally recent days .
2)though volumes are not convincingly high to believe the bearish candle .
3)the catch here is that market is in pullback mode and so is metal sector .
4)RSI is also reversing from upper trajectory that means a correction should be comming .
TRADE:
1)if a follow throught candle breaks the prv.candle low
2) sell can be initiated for target of 20 ema i.e 393 near arround
3) if market goes upward it may also show upmove .
thank you
keep capital safe
trade what you see ,not what you hope for ....
MY VERDICT
1)overall the market is correcting ,and jindal steel had awsome rally recent days .
2)though volumes are not convincingly high to believe the bearish candle .
3)the catch here is that market is in pullback mode and so is metal sector .
4)RSI is also reversing from upper trajectory that means a correction should be comming .
TRADE:
1)if a follow throught candle breaks the prv.candle low
2) sell can be initiated for target of 20 ema i.e 393 near arround
3) if market goes upward it may also show upmove .
thank you
keep capital safe
trade what you see ,not what you hope for ....
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