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was it a fake breakout?
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@Himanshu93, Nope, the breakout was good but it just lost steam. Accumulation is going on.
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Himanshu93 CautiousChartist
@CautiousChartist, So should I hold? I bought at 90 levels. Seems like I bought very early. And daily now it is in red only.
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@Himanshu93, You actually bought quite late because 93 was a resistance anyway from where a retest would have been expected even in a bullish week.. In these markets when everything has been falling , there is no rationale in selling a stock now. If one had to panic , the panic should have been early ! Regarding holding it or not is up to you, however, in a bull market good stocks will recover from the fall faster.
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Himanshu93 CautiousChartist
@CautiousChartist, Understood your point mate! I went for the breakout and yes entred quite late and now trapped at the top. Don't know should I hold or not because the whole market is down these days and for how long it would be in red, don't know. I think the market will be in the hands of bear again due to rising corona virus cases and high US bond yields.
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@Himanshu93, Every year March is very volatile by nature. Even last year post March, markets recovered and ran like never before. Now the grit, patience and need for funds varies between investors. In this stock I would not sell, unless I see a closing below 70 with volume and it sustains under it with weakness because above 70 it doesn't violate the triangle pattern
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Himanshu93 CautiousChartist
@CautiousChartist, Yes you are right! Last year same time market was totally bearish and later ran totally bullish! Okay I will go with your chart! Let's see what happens!
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