Look to accumulate on dips within the current channel so that your buy price is as close to the stoploss. If it breaks out of the channel in the next trading session, buy with a STOPLOSS of 10.7 - 10.4 based on your risk appetite.
Help Me to Help Us. I believe in keeping the chart simple with minimal drawings & easy to interpret. So kindly express any disagreement & improvements so that we learn & earn together. More accuracy = more profit potential & controlled loss.
*DISCLAIMER* For educational purposes only. Not a recommendation. Treat StopLoss as your best friend to get you out of troubles.
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Today the markets amid global cues traded weak. However Idea continued strong to break the current channel.
I expect a small profit booking consolidation at 12 . For volatility safety if one has bought today shift the SL to 10.7.
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SL is only to protect your loss and secure your profits. It doesn't mean one cannot enter again. The chart is still string for the targets mentioned. Accumulate on dips in a staggered manner.
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Volume is drying. Good sign
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Trade with a strict stop loss of 9.4
Trade closed manually
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To be honest can't really judge how this stock is going to move. On one side it looks healthy by respecting the support and forming a good base. On the other side since Nifty is correcting it could affect this stock as well coupled with the court order soon. Stay cautious here. I suggest an Exit.
Thank you for this. I have 4000 shares bought at 5.6. Advisable to buy more at 11-12 levels? Thanks.
CuriousChartist
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@TrevorPhilips, The targets are in front so it's completely your call but around 12-12.7 are the levels where you need to book profits. Strictly maintain your StopLoss as u don't want to lose a big chunk with one abrupt massive red candle.
TrevorPhilips
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@CautiousChartist, Thank you. I will wait for the results then, and then proceed accordingly.
@CautiousChartist, They didn't declare the results during trading time. Bought 3000@10.9, which brought my average to 7000@7.87 at present. Lets hope the results will make it move higher. Else will exit at 10.