JPPOWER is making a bearish pattern for at least
short term as what we understand. Today’s close is at 16.70. This stock is
making a small and complex head & shoulder kind of pattern, which indicates
a short term down trend to continue. Any short position can be initiated for
the targets of 15.70 & 15.25. In case of any bounce & trend reversal we
have to protect ourselves by keeping a strict Stop Loss of 17.25 on closing
basis. Please refer the chart below for better visual reference.
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