Chola finance Long idea

NateshBhat Updated   
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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