RSI divergence is clearly visible in the chart.
hence I would suggest people to be bearish since cholamandalam already gave a breakout and can possibly give a retracement and therefore fulfilling our strategy
please don't short below the red line near 270.
target 1 of near 1.9% can be achieved if cholamandalam starts falling
for people who want to take more risk can book small profits at target 1 and then continue on to target 2
please check market sentiments
a bearish market will add to our idea
hence I would suggest people to be bearish since cholamandalam already gave a breakout and can possibly give a retracement and therefore fulfilling our strategy
please don't short below the red line near 270.
target 1 of near 1.9% can be achieved if cholamandalam starts falling
for people who want to take more risk can book small profits at target 1 and then continue on to target 2
please check market sentiments
a bearish market will add to our idea
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.