Asian paints-Bearish Engulfing-Entry:846 Stop Loss: 884 Target:800

[M Prem Rajan]

There was a steady stream of bullish candles followed by a bearish candle that covers the whole of the previous day’s candle body with relatively higher volume than previous few days. The entry is after the low of both the candles which is 846 and the stop loss is the high of both the candles which is 884. The target price for the short position is set to 800.

[M Prem Rajan]

Price has reached entry levels on 12-oct-2015.

[M Prem Rajan]

Stop Loss hit on 16-Oct-2015.

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