Negative Divergence, short call given, target has bee achieved. It is prudent to book profit.
BHARAT FORGE, Showing Bigger corrective structure, lets see if it could take one more down or will continue higher.Its Impulse pattern as per my opinion.
Long Target 1298 Stock in stron uptrend on Monthly & weekly Charts
KISSING THE EXPECTED HIGH AND TURNING AROUND.
SELL BHARATFORGE AT 857 TARGET 820 STOP 880
Bharat Forge seems to have traced an extended zigzag and is right at the bottom. It's likely that an upmove starts soon (without making a new low). This up move should take it to newer highs.
This is in relation to my bullish outlook on this stock. (I've provided the link for original post below too.)