Trading_hawk

BONUS TARGET ACHIEVED | TRADE SETUP FOR 30-07-2021 | COLPAL

Short
NSE:COLPAL   COLGATE-PALM (IND)
NSE:COLPAL

It was a huge selling in COLPAL , due to result day today. It went down to test it bottom. Hope you had good sell trade. Both the pre-decided target achieved easily. As well as there were two bonus target, but most of might have get the one bonus target as well.

Simple trade setup for 30-07-2021

Since it has history as once it test the bottom and gets support it will recover all the down fall in couple of days.
Better to avoid intraday trading in the range marked on the chart. Only take the trade from the levels.

Do comment if you have any doubt or suggestion. I will try to respond ASAP .

Also do comment if my ideas are helping you to understand the trade setup, price levels and getting the trade in real market.

Comments

i have a 1800 ce for aug
will it climb to 1800 this month??
Reply
@amaldask
hi,
yes. I am having bullish view now on it.
Reply
@amaldask
if Tomorrow you see it moving up then add ITM CE option to make profit or to cover your loss of 1800 CE option.
Reply
@amaldask
but it has to climb above it's Friday's high and trade above it..
Reply
tejbhatt20 amaldask
@amaldask, bro its under 44 moving average and i think you should exit your trade cause it will take time to trade above 1700
Reply
@tejbhatt20
Hi
thank you for your insight.

@amaldask
after today's Price action it closed again at the bottom level.
as per my comment yesterday if it trade above Friday's top/high then it will be bullish. but today it failed to do so.

If you want you can hold the position as it is just the beginning of the August month but better to exit if you don't want your capital to be blocked.
Reply
amaldask Trading_hawk
@Trading_hawk, Thank you for sharing your view, I also didn't expect a fall today even though nifty was in green.
What is your opinion about avg at CMP 10 . I bought 2 lots at CMP 25.
Reply
@amaldask, First of all this stock doesn't have any relation with Nifty. So I advise to not keep sentiment w.r.t Nifty.

I recommend to not average and stuck your capital in it.

Better to enter in other trade from the stock which I have already shared.
To recover loss/ loss position, it is not advisable to keep on averaging your loosing position. Better to cover it with another profit making trade.

For example, today good Profit making trade were in Wipro, Infosys, Vedanta, TATAPower, etc.... So if you have extra capital and want to recover your loss then better to enter in other trade with strategies to make profit from it.

I will advise better don't burn your capital in loosing trade at this moment.
+1 Reply