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Tagged: SHORT - DOW - GRASIM
lower top and lower bottom are formed it is a bearish trend and volume is also high and it is a good sign for bearish
Company : GRASIM direction : SHORT
Entry – 3550
TGT – 3400-3380
SL – 3700
Dear Naveen Sir,
I have gone through your trade plan with respect to Dow theory, your analysis is correct. But I have doubt, as per Dow theory the trend is bearish and when the stock breaks the previous bottom level, we can to create the short position. In your chart the previous bottom level is 3450, but you have created entry level at 3550.
From your analysis, I guess that due the significant volume at 3550, you are assuming that already the fight between the buyers and sellers has happened and it is right time to create a short position.
Is my understanding correct. Please confirm.
Respected sir,
yes you are right i created a entry because of a huge volume.
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