NeeteshJain
Long

IDFC - Trend Continuation Breakout

BSE:IDFC   IDFC LIMITED
It has been observed that the price action is trending upside with short correction after every upward move. Now, the current short correction seems to be over with the current breakout.

T1- 64
T2- 66
SL- 60
Trade active
Comment: Running fast after the breakout, indicating strong momentum.
Trade active
Comment: It did reach T1 and then corrected sharply. I'm not able to update the Target achieved neither SL hit. Now, currently I'm still hold with revised SL of 58.
Well looks like chart showing there is no continuation , it broke the trend line and came down
Reply
NeeteshJain WaveTradersproGroup
@WaveTradersproGroup, It is still in continuation as the uptrend is intact with strong support at 58. Once it breaches below the support then the continuation may end and until that happens it is in a continuation upward mode. Thanks
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@NeeteshJain, the script has dropped nearly 64 to 58 which means 10 % of drop , you mean still the risk to reward was good ?? because your specified target was 66 , i do not think a logical money management will allow this to happen , its ok if you take 10 % risk to make 3 % gain , Thanks for your reply
Reply
NeeteshJain WaveTradersproGroup
@WaveTradersproGroup, As per my actual experience, I cleared our half position at T1 and then cleared out half once we reach out mentioned stops. I could not update the target and neither stops in it. Now, In our previous conversation, I was just indicating about the trend continuation of the script which is still active as the support of 58 holding strong and not specially risk managements, as it is true that it does not support favor the buyers. Thanks
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@NeeteshJain, I think you need to understand how continuation pattern works , it broke your specified level
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Hi Sir, are you still holding this? any new SL?
Reply
@RajKA, Yes, I'm still holding with SL 58
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RajKA NeeteshJain
@NeeteshJain, Thanks sir.. I am with you on IDFC twins and canbk. :)
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SIR WHAT HAPPENED TO HERO MOTOR
Reply
@HENSON, It is still consolidating,



Thanks
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