Hey guys,
Anyone who trades the stock
Havells
Havells has been in a downtrend for the past 1 month and a lot of traders following Conventional strategies/ Momentum based strategies would be looking to ‘follow the trend’ and short this stock.
This brings in a lot of retail Sell orders in the market and presents a great opportunity for Banks and Institutions to get their Buy orders filled.
Recently I’ve noticed Price action structure that could very well be institutions placing buy trades (blue arrows on the H1 Chart)
Since institutions want to get their trades placed at around the same level, this could potentially imply they are placing buy trades to cause a market reversal and take the market upwards
However these arrow could even imply profit taking zones where they are covering their short positions rather than placing buy (long) trades, which is what I’m trying to decipher
Would be interesting to hear your opinions on this
View attachment 39473