Sold 'Ahluwalia Conts.Ida.' based on strong negative indicators

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.

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