Stock: Ahluwalia Conts.Ida.
NSE Symbol: AHLUCONT
Add Price: INR 252.00 - Remove Price: INR 369
Stock witnessed a strong distribution starting 15th May. The stock has been correcting from the past three sessions on heavy volumes.
I reviewed the stock ‘Ahluwalia Conts.’ and decided to sell it based on several technical indicators.
- 3-day pattern - I see the Increasing volumes for last three days which keep on growing everyday.
- Using Acc/Dist indicators I see there were a consistent distribution started from the last 5 days
- 9th May to 17th may - RSI shows overbought situation which clearly says that stock might plunge from this level.
- 3 red candle after a peak of the stock. All candles with lower low and lower high to the preceding candles.
Refer to the screenshot for more information.
