NateshBhat

Chola finance Long idea

Long
NSE:CHOLAFIN   CHOLAMANDALAM INV
Similar to my Bajaj finance idea on hourly this one is on daily and patience would be required.

The 500 area in the stock has been a demand zone which was once broken and given a bear trap with a massive rally of 70-80points. After that massive rally price has now come back to test the 500area. Hourly atr shows that the stock has consolidated for a while and enough consolidation in the stock seen.

We plan to buy the stock in futures with stops of 10points for a target of T-570 T2-640.
Trade active: Has started moving immediately. We have upped the trailing stops to cost 503.
Trade closed manually: Closed the trade on trail. It might just be i got stopped.

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