NIFTY : With political drama heating up pertaining to FDI , I would like to stay away from trading Nifty Currently .Wild whipsaws are too tough to ride on.
STOCK Pick : A contra trend trade.
I want to SHORT BHEL.
If tomorrow first 30 minutes , price stays below 240,
SHORT BHEL with SL 240.
Today , prices returned after clocking 240 and since long time 240 has been a tough line for the counter to cross.
Daily Chart :
I will be betting on a possibility of a Shooting Star Candle Formation which markets a bullish TREND REVERSAL.
Shooting Star :
My first Target for Bhel stays 233 .
P.S. Any short trade on bhel (trend reversal) should have STRICT SL (@240) as , I expect it can fly if prices sustains over 240.
SS
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