Why HDIL is trading down :
Today’s intraday trading stock recommendation is on HDIL, as the stock has broken below its support level of 135 so we are seeing huge selling in the stock. So near term trend for this stock will be bearish and we are trading in the direction of the trend, so we will look for selling opportunities as long as the stock is below 136 level. For intraday trading traders can go short sell in this stock near 135 levels for targets as 132 and then 130 levels, it is also recommended to place the stop loss near 137 levels. High risk traders can go short on HDIL futures contract or buy put options contract for intraday trading. Also today the stock is trading down by 3% and we expect more selling coming in this stock. Taking a look at the charts we see that the trend is more likely to be bearish for today, So this stock may attract more sellers on every pull back today. The volume is also very high with constant selling. Technical indicators are also in favor of this trade, stock HDIL. We also advice investors to stay away from this stock, untill the direction is clear for near term.
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