The stock price has been coming down in one month from 7800 to 6600. This time consolidating at lower levels, and support also can be seen on the charts.
If bounces back from these levels, may go in an uptrend. Projected targets are indicated on the charts.
If closes below 6520 for two days, may go weak according to this setup.
The risk-reward ratio is good in this setup.
This illustration is my view, only for learning and sharing purposes, not trading advice in any form. Please conduct your analysis before taking any trade.
All the best.
If bounces back from these levels, may go in an uptrend. Projected targets are indicated on the charts.
If closes below 6520 for two days, may go weak according to this setup.
The risk-reward ratio is good in this setup.
This illustration is my view, only for learning and sharing purposes, not trading advice in any form. Please conduct your analysis before taking any trade.
All the best.
Comment:
Started good. 100 points upside. Reaching 6730.
Comment:
Crossed 6800.
Comment:
After reaching near to our first target the very next day, came down to breach the stop-loss levels. And then resumed the journey upward. Now crossed the second target and reached above 7300.
A few points can be learned from this kind of positional setup -
1. Book the profit into the first big move ( as I did on the same day and exited after 6750).
2. Exit at the stop-loss and wait for the opportunity again.
3. It is a complex example of market behavior.
A few points can be learned from this kind of positional setup -
1. Book the profit into the first big move ( as I did on the same day and exited after 6750).
2. Exit at the stop-loss and wait for the opportunity again.
3. It is a complex example of market behavior.