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.
thank you for your insight.
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.
What is your opinion about avg at CMP 10 . I bought 2 lots at CMP 25.
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.