Short HLL stop loss of 2420 for target of 2020
HLL looks for short not only based on pattern but also decrease on volume on weekly basis.
will be good if short position created in range of 2320 to 2340
Stop loss 2420
Target :2020
Observations:
1.Decrease in price for May future contract with increase in OI
2. Decrease in 1Week volume
3.April Call OI is :1,569,300 and PUT IO :950,100
4. In May Contract Call OI :249,600 and PUT OI:67,500
will be good if short position created in range of 2320 to 2340
Stop loss 2420
Target :2020
Observations:
1.Decrease in price for May future contract with increase in OI
2. Decrease in 1Week volume
3.April Call OI is :1,569,300 and PUT IO :950,100
4. In May Contract Call OI :249,600 and PUT OI:67,500
Trade closed: target reached
Partially profit booking can be done or revise stop loss to 2280 now.Trade closed: target reached
All target achieved since it broke Diamond pattern it may go more down so now stop loss is 2100 and target is 1920 .will not be surprised if it goes to 1700.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.