I have observed that the best stocks to swing trade are those which are resting on the trendline as well as on the Horizontal Support. Two different kinds of traders enter at this location making the trade successful. NALCO is in a similar position. We can go long keeping a short target of recent High. However, a long term target is also mentioned on the chart with Red Line. It is important that the trendline and horizontal support is not broken in the coming sessions. Let us hope that we can get an entry into this trade.
Disclaimer: I am very new !!!
Trade closed: target reached
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Entry = 49.60 Exit = 51.50 Profit = 3.83% Holding Days = 3 Days
Sir, I have just seen your ideas now. Your ideas are great. Now CMP is 57.27 since 16 Feb CMP 50.15. almost 15%. Excellent
arunkrmishra2000
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@rustamsalam, Thank you for your kind comment and for boosting my confidence. Please don't call me sir :). I have just started learning about chart analysis. Things look good on paper but practicing actual entry and exit is important. In this trade, I exited too early I guess.