The counter after a very sharp up move seems to be taking pause. Yesterday it witnessed gap up Opening but failed to sustain at higher levels. Even today it erased all the gains and closed marginally higher. The counter has formed a Shooting Star Candlestick pattern on a daily chart. Looking at the today's Candlestick and other Indicators the chances of the Pattern Confirmation i.e. Chances of reversal look very bright. Below 1640 short position in the counter can be initiated with SL of 1685 for the TGT of 1560-1555 levels in a short term.
The Counter looks bit tired
Bears may Hammer in sessions ahead....
