The stock had earlier broken out of its channel but post few sessions I got convinced that it was a false breakout. Post poor results the stock has broken down of a descending traingle that too in a uptrending NIFTY. Likely target on the stock is 47500-48000. SL has be closing above 52000.
Comment:
The rally given in the stock is a good opportunity to short and keep strict SL of 52000.
Trade closed: stop reached:
SL hit. Exit.