Feels like Ambuja cement has completed 2 waves of major trend
If this is the 3rd impulse wave structure, we can see a sub wave (impulse) in it.
Have a look at the RSI and volume in hourly chart.
Buy zone :495-500
SL zone:465 levels
Final target for this wave is 645.But depends on how we manage the trade.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
If this is the 3rd impulse wave structure, we can see a sub wave (impulse) in it.
Have a look at the RSI and volume in hourly chart.
Buy zone :495-500
SL zone:465 levels
Final target for this wave is 645.But depends on how we manage the trade.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
Comment:
1:2 now
Comment:
1:3 now
Trade should not be a loss now