In a weekly chart, #Infratel is trying to get outside of the triangle with an upward trending RSI(15) which is a bullish sign. One can go long at 196 with SL@173 which is a very crucial support zone, breaking of this can get us to 153 & 131 levels. So maintaining a strict stop loss at 173 is a mandate. In an uptrend, we might get hiccups at 241 & 274 which will be our short term targets.
Comment:
As predicted, #infratel made a 6% move. Hold the position.
Comment:
Sudden fall in Infratel has created a panic and now traders are confused about what to do whether to release the position or hold. I have received many queries on the same. Currently, hold the position and trail your stop loss from 173 to 179.70. Buy call was given at 196. We have minimized our risk to 8%.