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As a trader generally we have observed that retail traders are wary of shorting and many of them are not even aware that they can even short sell in intraday without holding the stock. Well, this is generally the state of novice traders. However, if you are one of those looking to add to your income through intraday than you should not miss checking out the best intraday trading advice and you are good to get started as a smart trader who makes money on daily basis.
Today we are going to discuss a textbook pattern shorting opportunity which has emerged in Mahindra & Mahindra Financial Services Limited which is in a falling trend channel in the medium to long term. Falling trends indicate that the company experiences negative development and falling buy interest among investors.
The stock has broken the rectangle formation between support at 329 and resistance at 354. A decisive breakthrough of this level has occurred at the lower end and we can see this stock touching 310, 300 levels.
On the higher side do not enter this stock unless it breaks the level of 355 where it gets a new bullish direction
As a caution, if we have recommended a sell call in the stock does not mean that it is a bad stock but as of now, the chart is just telling us that stock is in downtrend and trend can reverse with positive news about the stock.
Today we are going to discuss a textbook pattern shorting opportunity which has emerged in Mahindra & Mahindra Financial Services Limited which is in a falling trend channel in the medium to long term. Falling trends indicate that the company experiences negative development and falling buy interest among investors.
The stock has broken the rectangle formation between support at 329 and resistance at 354. A decisive breakthrough of this level has occurred at the lower end and we can see this stock touching 310, 300 levels.
On the higher side do not enter this stock unless it breaks the level of 355 where it gets a new bullish direction
As a caution, if we have recommended a sell call in the stock does not mean that it is a bad stock but as of now, the chart is just telling us that stock is in downtrend and trend can reverse with positive news about the stock.
