MoneyRain
Short

Sell Futures on Reversal

NSE:AJANTPHARM   AJANTA PHARMA
68 views
3
68 9
Sell with daily reversal near levels
Trade active: Short active
Comment: Booking profit off the table today
Comment: Booked Profit form 1361 to 1197
Trade closed: target reached
You were right on the money :) Where is Ajanta heading from here?
Reply
MoneyRain rubixqube
@rubixqube, I am looking an Consolidation at 1140 to 1100 , and then Expansion , Expansion if brakes the Low of 1100 or brakes the range down ward , i will not be surprised for target of 700 , and if the Expansion takes on upside move , and brakes the upper range , I am looking one more Retest of the Top before deciding where Next ,
Reply
rubixqube MoneyRain
@MoneyRain, Good strategy, I think on the downside more like 850, but honestly I think 1100 levels should hold, considering SBI had bought a big chunk (nearly 2 percent) at 1500 only recently; dont think they would like to see their investment drop 50 percent under an year. Let's see... BTW thanks for the quick response!
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rubixqube rubixqube
@rubixqube, What do you make of today's close? It held 1150.
Reply
MoneyRain rubixqube
@rubixqube, Still I am in the view of further one more drop before turn around , but the drop will be after a deep correction or range , expect this stock will be in range for a while , then 1 last drop before turn around
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rubixqube MoneyRain
@MoneyRain, Ok. Let'ts wait and watch.
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rubixqube rubixqube
@rubixqube, 1100 taken out! Now ? Enter now?
Reply
MoneyRain rubixqube
@rubixqube, I dont see any reason to enter for long or short , Just because it has taken out recent low or high , If Long trade have to get active , i need set up as per my own trade theory , and if i see a possible trade set up , then i will inform , currently if you are in short on future just trail your stop until it takes you out , as long as its going in the direction of your trade , keep trailing the stop , no need to book , let the market take you out ans give you sign that its turning now , at that moment you can decide when to enter after viewing the set up for long position
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rubixqube MoneyRain
@MoneyRain, thnx
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