A Short Trade in Coromandel International!
Coromandel International could confirm head and shoulders pattern within 2-3 trading sessions and if it does the targets would be as follows:
Target 1- 760
Target 2- 720
Target 3 - 640
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Today Coromandel showed a possibility of formation of head and shoulders pattern and by seeing various factors it seems very likely that the pattern would get confirmed within few trading session and the above targets would be achieved!
RSI is heading towards 40 levels signifying weakness in the charts!
MACD histograms also suggests increasing weakness and decreasing strength!
5 DEMA crossed 13 and 26 DEMA today which is also indicating a down move very soon!
Target 1- 760
Target 2- 720
Target 3 - 640
********************************************************************************************************************************************************************
Today Coromandel showed a possibility of formation of head and shoulders pattern and by seeing various factors it seems very likely that the pattern would get confirmed within few trading session and the above targets would be achieved!
RSI is heading towards 40 levels signifying weakness in the charts!
MACD histograms also suggests increasing weakness and decreasing strength!
5 DEMA crossed 13 and 26 DEMA today which is also indicating a down move very soon!
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