Too many double tops in the past month, but the post consolidation of second top is dragging.
Below are post double tops
1. ONGC - Already languishing around the support level of 365. If it goes below with big volumes, enjoy the downfall! Go short at any price above 370+. Hmm, for investors....Keep a watch on any positive news and Sell. It is not even holding on to the news for a day. You can always enter at a lower price, if you go purely on chart patterns.
2. Motherson Sumi - Huge Potential, but the chart offers a lot of shorting options. The mood is weakening. Has come down a little from the second top. Cautious ones can clear the counter.
There is one probable long cup and handle :) crompton Greaves...Can clearly go long. I am waiting for a breakout.
Trading Opp.
Patel Engineering - Strong support at early hundreds. Can enter at any price below 108.
