MohammedJunaid

CASTROLIND: RISK SELL@185.3 SL 191 TGT1:178.1 TGT2: 172

NSE:CASTROLIND   CASTROL INDIA
CASTROLIND has sold twice its average volume on FNO Expiry Day. And closed near its Weekly support of 182.5. Since its near support it qualifies as an RISK cell (have to take small quantity).
Sell small quantity of CASTROLIND at 185.3 with SL of 191 and Target1 of 178.1 and Target2 of 172.
Please Note: Since its at Weekly Support, only trade with small quantity or take position in PUT.
Comment: I am trading this counter myself@ 185.3 and trade is open.
its trading within the channel. Wait for tomorrow as there will be extreme volatility tomorrow and day after for approaching event. This volatility could take it down to target or hit our SL.
Comment: Castrolind trading within the channel. Wait for close either above or below channel. until then, the channel is heading downwards, so enjoy the trade.
Trade active: Target1 Achieved @ 178.1
Revise SL at entry 185.3 and wait for target 2. OR Squareoff complete position at 178.1
Trade closed: target reached: Target 1 Achieved.
Stock went close to Target 2 as todays low was 173.3 and Target 2 was at 172
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