Today Equitas holdings opened with a gap and CMP rose throughout the whole day. But when the stock price hit its long term resistance level it quickly reversed, this shows the validity of our resistance zone. This trade is for tomorrow, as currently US markets are in bearish state, and S&P 500 is down 1.38%, thus gap down in Indian markets are expected. Shooting star patterns can be observed when the price is at resistance zone, and volume confirms that a down move could be highly expected.
TP at 120.20 and 119.25 levels are marked, and place stop loss at 125.55.
TP at 120.20 and 119.25 levels are marked, and place stop loss at 125.55.
