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guptaaditya24
Oct 4, 2021 3:16 AM

Long AUBANK: Rejection from monthly resistance, volume pickingup Long

AU SMALL FINANCE BNSE

Description

Hello Traders,

AUBANK can be a good trade at the moment.
Its closing price on Friday was 1182

It can be traded as follows:-
Entry price 1191
SL: 1123
Target: 1293

Supporting pointers:-
Recent rejection from monthly resistance levels of 1142 and 1123
Volume picking up
Comments
guptaaditya24
@shraghu08 No I didn't. How could I? I was too far from the target. I would wait or will be taken out at SL. In such cases I move my SL right above my buy price to avoid losses, since the stock has once moved very well into the expected direction
shraghu08
@guptaaditya24, Yes, you are right, but I think you could have exited @ 1250 and reentered again around 1210 levels.... I saw 25000 selling single lot placed @1205 level during closing, I wanted to go long around 1200 avoided, waiting for 1160 level as BANK NIFTY looks weak today.
shraghu08
Hope you booked the profit today..
guptaaditya24
Trade on. Entered at 1197
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