As per your chart it looks like the first downtrend Arrow, As expected date of 53 was 29/6/2017 there & if second arrow would have should have hit 50 by now & 47 by 13th July, Am I Correct. Also, any reverse sign from here onwards if the downtrend has been completed
UnknownUnicorn646072
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@Siddharth_Kr_Jain are you want to know reversal bounce back or trend change ?
@rupambose32, Sir, I got entered Long here yesterday expecting for a reversal bounce back to 62-63 levels. Please guide me on the same. Is it in continue downtrend to the 2nd arrow or trend has change from the First arrow & looking for a bounce back. If so, till which level. And Thanks a lot for responding.
UnknownUnicorn646072
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@Siddharth_Kr_Jain, how much you buy
Sidharth_Kr_Jain
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@rupambose32, Sir, I had bought 6 Lots at an average 53.70 on 28/6/17 & gone to a high of 54.45 on 30th June but closed 53.50. I had already made huge losses in 57.50 & 55.00 Ce of June bought when it was trading at 59 Levels and was unaware of its charts. Found your chart after entering in the Future. Since, I am short term positional trader, I would like to get away with the positions with there is chances of it going to 2nd level. And hold if there is possibility of it going to at-least 57.70 (20 DMA) if it cross 54.45 (5 DMA). Last Year on Feb, 2016 also, it has come to 47 odd levels (Its lifetime low) for a day or two when it broked 53 at the time Index gone 6825 and jump back to 62-64 range within a month. Also, from quite few week its Future was trading at almost 0.50 discount to its spot and from 29th the same turned reversed and its up by 0.30. This time, I have guts feeling that if it remain above 53.00 for a day or two it would reversed back. Your guidance is highly solicited
UnknownUnicorn646072
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@Siddharth_Kr_Jain, donot take otherwise i am giving you a suggestion,so many good stocks are there which you can trade,which are in uptrend ,you are trading against the trend,look you bought idbi after some analysis,now your analysis is going wrong,idbi is in downtrend,till now it not give any signal of strength,again you are doing averages,taking so many lot in one stock,nifty is also in down trend,may be you are in profit in idbi,or not,i donot know ,but donot trade like this,if you want to trade,first learn some definite indication, of strength or weakness then buy or sell accordingly ,and maintain stoploss,and when you predict anything if it goes wrong always better to come out from this stock,donot trade with hope which you are feeling ,trade with some definite rule ,we are not here to make profit big in one,day ,or lose big in one day,we are here to consistent profit
Sidharth_Kr_Jain
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@rupambose32, Very True Sir. I have done same mistake in Rcom last year and consistently doing the mistakes again and again (Playing in one stock). That time, I was totally unaware of charts etc and now in a learning phase and also got in touch with some good technical guys like you to guide. Yes, you are so true that there are so many good stock for going long which are in uptrend. Going against the trend is the most harmful thing in the market which I had learn from my experience. So, would get out of it on Monday and also make positions in 3-4 stocks instead of a single one. Also, I have changed my strategy this time ( I have entered after 6 month gap ) and would also look to go in shorts as per the trend. One question in Nifty, do you analyze that it would go to 9630-50 level in few days as per your Nifty Chart and would come down from there. I had buy Nifty 9650 options on Friday, so asking the same. Another question, do you have any professional service and are you active in Twitter. I am very grateful of you to spare your valuable time in guiding me. Thanks a lot
UnknownUnicorn646072
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@Siddharth_Kr_Jain, now main trend is down,i donot trade against the trade,i am also in learning process,i have no professional service ,no twitter account,this is selling level,if nifty go there ,one can sell with stoploss