GMR INFRA| Dip Buy - good Risk Reward

Pin bar candle formed at bottom of the channel. Good price to enter with low as stop loss. Targets are in chart.

Educational purpose. Trade on your own risk with proper money management.

Comment:

The market dropped sharply today, hardly I can see 1 or 2 stocks in green that too with minimum up movement. Because of the global cues, our market also fell. That impacted our GMR Infra too.

As I told earlier the stop loss will be pin bar candle low, as a trader we have to book our losses. But I made use of this opportunity to accumulate this stock, only if it breaks 38 levels I would think of booking my losses and closing my position.

Why do I average?
1) I can see good support in the below levels
2) There is nothing wrong with our analysis, the only thing is the overall market didn't support us. In case the overall market is positive and our stock is falling down, then I would have closed the position in the pin bar candle low itself.
3) I believe there will be a bounce-back, once the global cues are stable. This fall is completely because of news like the FED interest rate, the crypto-currency ban in Russia.

Let's see what happens in the upcoming session.

I will update about my position of GMR Infra in the upcoming days.

Trade closed: stop reached:

Stop has been hit, as the head and shoulder pattern neckline has been broken. I'm exiting the trade.