praveen.bhatiya
Long

Bottom Fishing : Risking small amount in direction of market.

NSE:BEL   BHARAT ELECTRONICS
Price has already made 3 down drives, now coming out of RSI oversold zone, Engulfing bar at double bottom zone today. It may not be a high probable trade but still worth risking small amount. One can expect at least thrice the reward of risk being taken. Stop Loss some ticks below the recent low on closing basis.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Trade active
Trade closed: stop reached
Yes its formung W pattern .
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One can easily expect target of 142/149
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MohitArora praveen.bhatiya
@praveen.bhatiya,
btw it better to go with trend that is when it came to resistence level and other price action give good indication then go short which is more reliable ...but in trade against the trend have some risk higher .
Even in this we can earn but risk is higher and few point can be earned but not the perfect target some times and hence it is better to trail stop loss and book part profit as early as possible.
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