LODHA - Bearish due to forming double Top pattern

TECHNICAL INDICATORS -

• DOUBLE TOP PATTERN formation - LODHA has formed a double top pattern indicating strong downward pressure for the stock
  
  Double top is characterized by two consecutive peaks on a price chart, with a dip or low between them & subsequent breakout
  
  
• VOLUME SPIKE -
  the stock has recently shown two large volume spikes indicating strong upcoming momentum for the stock
  
  Generally volumes increase before a significant price movement
  
  
• SHOOTING STAR candlestick -
  the stock has formed a shooting star candlestick recently indicating trend reversal for it ie from upward movement to downward movement
  
  Shooting star is characterized by a small body at bottom and a long upper shadow of a candlestick
  
  
• GAP-DOWN BREAKOUT -
  
  the stock has broken out of the pattern with a gap-down indicating very strong downward pressure
  
  
• PROFIT TARGET -
  1200
  
  
• STOP LOSS -
  1325