Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Cairn in Dilemma

21 sec read


 

Stock : Cairn
CMP : Rs 159
20day EMA : 159.1
5 day EMA : 158.1

Cairn is in sideways movement right for january and making multiples of 20 EMA and 5 EMA

bearish crossovers in daily charts and facing resistance near 159 region and any fall and close
below 5 EMA i.e 158.1 is a bearish for near term and provide us nice oppurtunity to short this 
stock in every rise. As per Weekly charts 5 EMA resistance comes near 160.8. Looks sideways
movement can continue for couple of days before a breakdown to occur in this stock. Respecting
the daily resistance near 159.1 will target 149.9 in short term. 

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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