amoghn97

BAJAJ CONSUMER looks bullish

Long
NSE:BAJAJCON   BAJAJ CONSUMER
continuously making patterns, breaking out quickly and then consolidating and breaking out again.

follow the past pattern and back test it.

keep watching!!
Trade active: moving towards the target... bullish!!!
Comment: target 1 achieved - looks like consolidating...
you can trail the stoploss and move to target 2

Comments

Sir I bought 500 shares if BAJAJ cinsumer at 303 and I am stuck . It is not going up even closed below 300.. what I should do?should I hold or exit?
+1 Reply
amoghn97 tanmoyg112
@tanmoyg112, Hello Tanmoy, hope you are doing well.

Target 1 was based on the breakout over trendline with stoploss at 288. And when target 1 reaches trader can trail the stoploss near the traded price to minimize the risk and wait for target 2 as trader is already in profit. Ideally you shouldn't have bought it around 303 based on above analysis. Now, that you have taken the trade, let me give you some insight.

Now, if you check the hourly time frame you can draw a horizontal support line ~295.55, which was retested couple of times, also where the last candle was closed.
And pls also check the daily time frame, you can draw a support line touching wicks of the candles from 7th May. Ideally your stoploss should be just below that, 291.
I am unable to attached these two time frames here, sending it to you thru the chat.

short answer - you can keep the stoploss around 291 and wait, as it has not broken down the daily support line.

winning and losing is all part of the game, every trader goes thru it.
hope this will help.
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amoghn97 amoghn97
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amoghn97 amoghn97
Hourly time frame
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tanmoyg112 amoghn97
@amoghn97, Thank you sir for support.. sir I have bought another script zyduswellness 50 shares at 2155 and nownit camendisn to 2040 ..what should I do ?I am really scared in this counter .. does this share have any potential to reach 2155 at all? Could you please help me in this .
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amoghn97 amoghn97


daily time frame
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tanmoyg112 amoghn97
@amoghn97, great analysis sir..
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