There is a selling opportunity seen in the stock. The stock took support of the window and selling pressure was seen in the stock. If the stock is able to close below 50day EMA we can expect the stock to correct more and retest its previous low from where buying was seen in the stock.

From Lower levels buyers are trying hard on an intraday basis to push price up and close on the high buty sellers are not willing to give up easily. The sellers in the stock have been a bit aggressive at higher levels indicating a sign of Sell on rally.

For this move to be upset some positive news or the seller has to give up.

The RSI is following the price and is expected to do so ahead in coming days.

Advice : Sell only if the stock close below the EMA for 2 consecutive day.

ALIBABA

Oct 27 2021