Bandhan bank share made a significant price action by re-testing important support of two years, which is now a resistance. But now is not a good time for shorting (future) as it has now fallen 15% already in just three sessions. Wait for a pause - a small and volatile green candle. When the low of that candle breaks, that's the time to short for a target of 155 (low of 3 years).
Prediction: First, a pause at this level, then more selling pressure tile 10-12% more drop from here.
Action plan: The risk is high as the candles are big. Trade intraday if your shorting setup is formed. Buy in intraday with half position size and very small targets. Shorting the future is only recommended for an aggressive trader with a small stop-loss.
Prediction: First, a pause at this level, then more selling pressure tile 10-12% more drop from here.
Action plan: The risk is high as the candles are big. Trade intraday if your shorting setup is formed. Buy in intraday with half position size and very small targets. Shorting the future is only recommended for an aggressive trader with a small stop-loss.