vanathi

Adaniports - Near Resistance

Short
NSE:ADANIPORTS   ADANI PORT SPECIAL
5
Price action of adaniports shows weakness by the formation of triple towers. Now adaniports is trending within the channel, but if the channel is tested when the main index is weak, it can reach 270, 265.
Trade active: Short 292 stoploss 295
Comment: This week I am checking what mistakes I am doing in trading entries. Trading entry against the main index and trading entry along with the main index.
Comment: Resistance is taken, but I entered the trade along with index. Retracement will be smaller one and the target will be 4 to 5 pts.
Trade closed: stop reached: Lesson 1 : Against the main index.
Lesson 2 : Any entry which is too early or too late is wrong.
Lesson 3 : Against Dow tenet "A trend is assumed to be in effect until it gives a definite signal of reversal

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