IndiaMart Chart form Flag Pattern after good uptrend and if it sustain above 5050 with good volume then there might be good upmove.
(Note: It is just for educational purpose and not a recommedation to buy or sell)
There were quite a few reasons for shorting Indiamart at that level :
1.Have a look at it's daily , no stock can trade in a single direction , it's shouting for a pullback .
2.Market opened gap down , a hindi quote = "Sone pe suhaga"
3.It tried going higher and failed .
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IndiaMART InterMESH Ltd. engages in the provision of platform to Small and Medium Enterprises, large enterprises as well as individuals. The company was founded by Brijesh Agrawal and Dinesh Agarwal in 1996 and is headquartered in Noida, India.