Berger Paints: Short at retest; Risk Reward 1:6

Berger paints breakdown from "symmetrical triangle" chart pattern in daily time-frame. I am expecting huge downside rally after a retrace till Rs 591 (which also translates to 1:6 Risk Reward).

I am planning to go SHORT at 725-730 Levels (but not before 3:00 PM), wicks at the top of daily candle tomorrow will add extra confirmation to our trade.

Entry 725-730
SL 752.1
Target 591

Disclaimer: Please do your own analysis before jumping into the trade. Jumping into trade is not necessary to acquire knowledge, you can be spectator and evaluate how the price moves.

Comment:

I am still waiting for RETRACE levels. Not executed today, c.f.

Comment:

I have not took entry, I am still waiting for more confirmation signals. May be tomorrow, c.f.

Comment:

Still waiting for "Selling wicks" on top of the daily candle. However, tomorrow I think it will fall, but I am still waiting for entry.

Order cancelled:

Now I am focusing on Nifty 50 stocks only.

Comment:

I expect anyone who is reading my writings to know that there is nothing "certain" in the markets. Neither the %gain on stock nor "out-performance" or "under-performance". There is a risk and opportunity cost involved in both, buying and selling. Selling at any price can often result in "opportunity loss" when the stock moves higher and higher. Human psychology is a culprit here. For e.g. I post any stock which seems undervalued or overvalued to me on tradingview. When anyone makes money on that, they wont appreciate me "a single word". But when they lose or it results in opportunity loss, they are bound to blame me. I don't criticize any person, because I know their psychology has defeated them. At last, there is nothing like "easy money" in the markets. The survival of the fittest holds absolutely true here.