Pennant pattern seen in AxisBank. It's a sign of consolidation. There's high chance of a breakout. It's wise to take a position on the long side as the SL will be less now. If it breaks the pennant on the downside, take a Hit & initiate trade on the opposite side. Breakout TGT: 710 & 760 Breakdown TGT: 200 DMA
hello sir
i need your help
i have bought 21jan 600 PE at 26.20. please suggest now is at 25 so what can i do hold or sell in book loss.
please advice sir.
bhagat109
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@phardik54, EXIT as soon as possible. It gave a breakdown on 21 Dec but soon recovered & came back inside the pennant. On the contrary, this is a bullish sign.
Will touch 640 in next 3-4 days. & then continue to trade in range or may breakout(hopefully).
Hi Ii need one help.
I have bought AXISBANK dec 650 ce at 7.4 2 lots and currently it is trading at 5.95.i am in loss.
Could you please suggest if it can rise uptown 7 or not ..
If u think I should book loss please advise
bhagat109
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@tanmoyg112, With every passing day you will lose ~Rs 1300 due to time decay- ''even if the the price stays flat''. Will Lose more if the price declines.
My advice: wait only till 18 Dec. If there's a huge green candle ( >3-4% ) that too with above avg. volumes, you can wait till Monday.
If price stays flat or moves in a narrow range within 1%, exit in the last hours on Friday tomorrow.
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PS: Next time if you're bullish on a stock try BULL PUT SPREAD.
(Margin required: roughly 40-45 K)
Buy CE only when you have a confirmed breakout.
i need your help
i have bought 21jan 600 PE at 26.20. please suggest now is at 25 so what can i do hold or sell in book loss.
please advice sir.