Kalyani Steels Long

akimosi Updated   
NSE:CNXMETAL is near a support region, after correcting significantly. And recently there with Nifty hitting the ATH and MIDCAP and SMALL CAP are underperforming a lot. So from this, we clearly understand that the capital is rolling from other sectors into BANK and Financial sectors. But this could be a turning point.

There are multiple convictions in this setup.
  • Bouncing from 0.7 FIB zone
  • Bouncing from 50 Daily EMA
  • And also the trendline

Hence this looks like a textbook trade, with a very good Risk Reward Ratio.

P.S : The company also has a good fundamentals too.
Trade closed: stop reached: Sad that the stops have been hit, but it is trading, losing are part of the game. So we could stay in the game as long as we manage our risk.


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