Brearish Diamond in Chambal Fertilisers. #short

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.

Kommentera:

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.