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JSWENERGY : Look for sell around 84 level of resistance

JSWENERGY : Look for sell around 84 level of resistance

The stock is moving with a strong downtrend for last couple of days & we see 84 levels as key resistance layer where we can enter a short entry with a stop-loss around 86 for a target of 74 level of downward support. For a better & more confirmed entry, we may wait for a price action sell signal to form like PIN BAR(learn : PIN BAR strategy) or REJECTION BARS on the resistance layer. We'll also be tracking the stock on intraday timeframes too to have an early entry when it reaches our desired resistance level. 

NOTE : All chart analysis posted here are the author's own idea of trading for educational purpose only &  not any form of advice or recommendations or opinion to anyone.

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August 5, 2015

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