Technically the stop loss could have been below the channel border because so far the pattern hasn't been spoilt. As we can see the low of the day was a strong resistance turned support 1600.
My stop loss got triggered at 1714. Reason is - ideally it was a good breakout so the stock shouldn't have come down. However, it fell because of Maharashtra fear and may be Iran US tensions. These falls are beyond technical analysis, so to protect the funds earlier I suggested a higher stop loss.
The stock is good and will move up as the market settles down after the panic.
Can you once again work on this. I made the position above 1820 and it fell beyond SL. I did not clear my position on SL as it was situational and knew it would bounce back. Its showing negative divergence on RSI on weekly basis. Looking good on day basis
kapil_arora20052000
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For how much time we will buy mphasis for 1990 tgt
CuriousChartist
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@kapil_arora20052000, Time frame is difficult to predict but I believe it should be achieved within a month.
kapil_arora20052000
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@CautiousChartist, trailing sl is good or no in your trades
CuriousChartist
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@kapil_arora20052000, Yes, you can trail the stop loss but keeping it very close can get triggered in a shakeout.
kapil_arora20052000
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@CautiousChartist, is ur recomandation is for swing trading???
CuriousChartist
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@kapil_arora20052000, I hold it for my targets which I know will come but in 1 week or 1 month or 3months. You can call it swing or anything because I cannot determine the time frame.
niruban1998
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When should I enter🙄
CuriousChartist
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@niruban1998, I'm sorry but that is completely your call based on your conviction. I entered at 1750 and will hold it or get out as as suggested.
Can you once again work on this. I made the position above 1820 and it fell beyond SL. I did not clear my position on SL as it was situational and knew it would bounce back. Its showing negative divergence on RSI on weekly basis. Looking good on day basis