NTPC has formed a hanging man on July 2019 with below average volume. The bearish trend on the next with high volume gives us more confidence to short the stock. Stoploss would be the top of hanging man candle. Target can be set at 2 times the risk or we can trail until there is sign of trend reversal. In our case 3rd day made a sign of bullish trend. we can exit on that day end.
NTPC – Hanging man on July 2019
