The uptrend in BEL that started from 20 th November has broken as we can see a
visible break in trendline. Also RSI is 69.58 and stochastic indicator is at a level
90.96 which are clearly indicating overbought condition. A 38.2 % retracement from
low of 1560 on 20 th November to 1870 of 4 th December can take the stock to a level of 1790 very easily. Day traders should go short @1820 keeping a stop of 1830,
just above the % day EMA.The target should be 1800-1790.
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