PNB - Bearish Bat at 163- activates below 161 for 159-156.50-154

Jul 31, 2017

Bearish Bat can activate below 161 for 159- 156.50-154.50 & finally 152. My important part of trading is risk management -if you can manage the risk you become winner in the trade.

So, trade set up activates below 161 & one should put stop loss of upcoming high or high which is already in place above mentioned targets.

Aug 1, 2017

Trade active

09:40 Hrs 1st Aug2017

Last Price@160.65

1st Big Candle for the day starts downside.

Aug 1, 2017

Trade active

09:48 Hrs 1st Aug2017

Day Low@158.65

Last Price@159.90

1st Target done - & short bounce starts from 159 zone - hot & awesome.

Aug 1, 2017

Trade active

11:03 Hrs 1st Aug2017

Last price@157.80

New low@157.45

We book partial 50 paisa of 2nd target at 157.60-158 & wait to sell below 157.50 next or likely take a pause & wait outside.

Aug 1, 2017

Trade closed manually

11:38 Hrs 1st Aug2017

Last Price@158.50

Out - out & Out in Time @157.70-158 - Moves back above 158 - Closing the short call for the day.

Aug 2, 2017

Note

06:45 Hrs 2nd Aug2017

Last Price@157.50

It is a comment only - PNB now struggling to go down below 157-156 is giving us a hint that it wants to travel upside & likely once it starts moving above 158.50-159 & crosses above that zone then holding 156 & below shall be key level for bulls.
Here Bulls could Take PNB above 159 for 164-176+
There is a double top@164.50(our pattern above)- once crosses that as well shall good bullish sign for next moves upside.
You need to do analysis at your end to confirm. I have just put the idea.
Thanks.