Why I shorted #CONCOR today ...

Shorting a stock in an up-trend is usually something I don't recommend, however there is no thumb rule that’s out there in the stock market.

I firmly believe that stocks exhibit the same moves they did in the past and the technicals sync-up. Today the overall sentiment of the broader market was neutral-bearish and despite the stock being in an uptrend shorting the stock was something I choose to do considering the below parameters:

• The stock, to a maximum extent repeated the same shape and structure compared to the recent past (I shorted the same counter in January this year ;-))
  
• The bearish pattern (Sloped HnS) gives a good conviction indicating weakness
  
• Price broke the neck-line indicating market participant’s reluctance to hold the trend
  
• Price re-testing the neckline with bleak volumes and cash flow
  
• Break of the recent support was taken as a good point to quickly short and get out at the next support .