Hi Traders/Investors, Last time when I posted this scrip analysis one of my followers was short at 701 with heavy quantity . I gave advice to come out from this position as sellers are being trapped . See it touched almost 780 . Now again this time my one of the followers is long . Eagerly waiting to know next move. So for this time, it is for you and many more traders who are on long side. See a red color channel is in fig where price took resistance and made shooting star candle circled in pink, which is activated now as second candle closed below candle circled . This gives me first information if this down move continues the end of main green dotted trendline then i will lose my money. So if i am long I will book my position here. I will not wait to convert my trade into hope that red dotted channel and green doted line will act as support. In any case if this area provides support then I will reenter in position rather to finish my profit of trade in hope.If you see the last statement of mine. I clearly said trap rally can end near white resistance line. Price did not touch it but made micro resistance zone at top.If strong bears entered at red channel top then price should move out of green trendline. If week then this area will provide support. simple logic. if price gets support at green line then a final up move can be seen to white line. on reaching at that area I will see will it continue further or finish. other side as soon as price takes out green dotted line with white support zone then trend will change . so follow conditions properly. I manifested both side trades with clear logic and conditions. If you want to win then maintain discipline by following conditions. Rest market will decide. YOGESH VATS
sir below 735 can we short for target of 701 keeping stop loss of 760, for knowledge i am asking. For red dotted trend lines you have taken low of 4th may and 20th may because the low of small correction and from there upward move started . is this the reason or any other. (2) why u have not considered the low of 21 april candle. thank you
yvatsji
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@bhaskarrao, I do not see entry in this way. Until and unless my conditions get activated I do not take my positions. I recommend to do same.
bhaskarrao
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@yvatsji, ok sir. please give answer to remaining part of query. if possible explain one trade of yours on bank nifty mentioning when u have entered the trade, with stoploss and target kept etc. also explain reason of entry and exit. this u can do when u have free time. by seeing that we can learn as a model. thank you sir