Havells trading at 624, took support around 622-630 zone multiple times in the last 6 months. The primary trend is very strong, so utilizing this dip to get in the trend.
Trade active
⋅
If you trading set-up doesn't scare you, it will be rarely profitable.
Comment
⋅
Comment
⋅
* Risk Reward is 1:10
Comment
⋅
Havells Result Gap Down.
Comment
⋅
Stop-loss triggered in the gap down opening. My position is Stuck and open with stop 588.
This happens gap down and gap ups are needed to handle. Stop-loss of 610 was triggered in the gap down. Price was trading at 595 in the opening from yesterday's close of 616.
Trade closed manually
⋅
Havells trading at 600. Now exiting the futures position. Initial stop was 610 which was triggered by gap down opening. So now exiting position at 600.
@Equity-Earningz i am scared looking at the chart of Havells..i want to invest in it for long time..I think stock might go to 610 levels or 585 level in near term and then bounce back to 625 level.
Equity-Earningz
⋅
Yes, The Idea is scary as I mentioned it too. And you are right; it can go to 592, which is a swing high formed in January 2018. I will close the Havells future position when the price reached 610 in the spot. But it will be a good buy again at your mentioned level of 585.
FoxTrot99
⋅
@Equity-Earningz, As expected it was gonna go down till 580 zones...Did a BTST..Bought at 588 and sold at 600. Tomorrow it might test 580 levels again.
Equity-Earningz
⋅
@FoxTrot99, Very Good bro. I exited futures position at 602. It was a 600 in the spot. I don't hold on to losing a position. Also, I won't short it because I don't do stop and reverse kind of trades. Havells is a breakout now on the downside, but it is not offering a good risk-reward ratio on a short trade. Havells today's low is 588.30
FoxTrot99
⋅
@Equity-Earningz, i agree Risk Reward is not favorable as well as Rating Agencies have also decreased long term target.I think Havells needs some consolidation at this level after that long position should be taken.