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jaykadam9
Jun 22, 2021 3:40 AM

Indian Bank Long

INDIAN BANKNSE

Description

Daily Charts
- Cup & Handle Pattern
- Looks good for a swing/ Positional trade on break of handle

Trade active

Entered at 152.00

Comment

Sold 50% at 147.4, Not working as expected, Better to look at other setups os stay in cash as Breakouts are not holding.

Trade closed: stop reached

Sold remaining 50% @ 142. Trade closed. Will wait for Fresh, sustained Breakout.
Comments
BikashAgarwal
todays gap dopwn move cud be due to allotment of qip shares.... need to c 1-2 days, i feel it may recover end of the day or within 1-2 days max and come above resistance again....
jaykadam9
@BikashAgarwal, It can happen but I would like to reduce risk in case it does not.
architk
I was looking at this same pattern too. Feels like a re-rating might happen in PSU banks.
rs1206487
hi sir, i entered at 151.70 @90 stocks
can you please tell the stop loss and targets please?
jaykadam9
@rs1206487, I am trading with following setup, see if that fits your risk management :
SL: 141 | Target1: 178, Target2: 190
architk
@jaykadam9, why SL at 141?
jaykadam9
@architk, I use ATR based SL
BikashAgarwal
@jaykadam9, hey bro... pls share ur expected timeline for frst and 2nd targets..... ty
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