CMP 4467 on 16.03.25
The chart shows all the critical levels. The price has corrected around 30% in recent weeks. At this moment, it is on support, as seen in the chart.
Considering a possible reversal from the current levels gives an idea of buying with a small risk.
Possible targets may be 4750/5000 and even more, depending on the index movement ahead.
The setup goes weak if the price sustains below 4400 for a couple of days. In given conditions, the strategy should include Hedging tools for better coverage.
All these illustrations are only for learning and sharing purposes, not a buy or sell advice in any case. I am not a registered analyst.
Before entering a trade, be ready to take a loss on what you have decided.
All the best.
The chart shows all the critical levels. The price has corrected around 30% in recent weeks. At this moment, it is on support, as seen in the chart.
Considering a possible reversal from the current levels gives an idea of buying with a small risk.
Possible targets may be 4750/5000 and even more, depending on the index movement ahead.
The setup goes weak if the price sustains below 4400 for a couple of days. In given conditions, the strategy should include Hedging tools for better coverage.
All these illustrations are only for learning and sharing purposes, not a buy or sell advice in any case. I am not a registered analyst.
Before entering a trade, be ready to take a loss on what you have decided.
All the best.
Note
The price dropped sharply in the first session. For the hedged strategy, the setup is still safe, as I recommended. For a fresh entry, one should wait for the price to be sustained above 4400 levels.All this description is only for learning purposes, not a bit of advice to trade.
Trade active
Finally showed some strength. Reached 4640 on 24.03.25. Keep on watch.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.