( McDonalds )- Sunday Offer -Prices are capped at 1330 - One can enjoy the feast but always take care of your limits (doing anything in limits is always better)
Previous update expected 1220-1245 zone target done & if faced resistance then we would have looked to sell -which it did not & made recent high@1330. Getting resistance just below the zone 1345-1355 can be an opportunity for bears to grab the feast close to 1330.
Make sure offer price should not cross 1330 highs which will be bad deal for bears.
Risky Traders - Looking to sell close to 1315-1325 Zone with strict stops above 1330- recent high with target zone 1220-1245.
If goes against or moves above 1330 - shall lose 10 points as selling at 1315-1325 zone - trader should watch & then sell -just do not jump in the running train.
Safe Traders - Allow price to come in the zone 1315-1325 -if does not move above 133o highs, then wait for sometime to allow price falling below 1300 then execute your orders with 1330 + highs as stops.This will suggest that 1330 is important level for immediate trading- once it starts falling below 1300 post going close to 1330 highs.
Target Zone - 1220-1245
Previous Update - Use the bounce 1220-1245 to exit
Last Price@ 1311
Bounce to 1315 as expected in the update-Going below 1295 - will be better for taking sell positions now.
Did You Sell Risky Traders at 1325 -suggested in Risky Traders Update - going below 1295 - Sellers will be in better position.
Day Low@1272 - Nice Fall from 1300 to 1271 for the day!
Almost kissed the upper edge of the target zone 1245 as suggested in the update.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ