dravya

PNB - Intraday / Positional

Short
dravya Updated   
NSE:PNB   PUNJAB NATL BANK
Here, is a potential short setup.

I'll go short on PNB tomorrow , only below 145, if it stays above it, no trade entry.

If it's below at 144, I'll go short :

A part for intraday,
where I'll keep 1 point stoploss
and target according to movement.


And the other part for positional,
where stoploss would be 151 ( 7 points ) and
target 132 ( 14 points )

Risk Reward :: 1:2


P.S. If you're buying options , go for 140 PE . Don't go below that.
But beware of risks of options, only for pro traders who understand it completely.
Trade active: Went short 144
CMP - 140.8

Trade is going very well for me !

I hope you guys entered ! And made good money .
Trade active: 140 PE value doubled from 1.6 to 3.2 . Good money today !!
Comment: See its still above the line. Taking support. Don't add to your position.
Trade active: Intraday position closed at 139.75 .
Positional trade active.
Comment: 140 PE, doing well at 3.25 . Holding.
Trade active: Keep holding shorts for tomorrow with trailing SL .
Don't initiate fresh longs .
Fresh shorts would provide a lesser RRR now.

135 would be a good place to book partial profits from positional trade .
Trade active: Yesterday we risked 1 point and gained 4 point on that.

Now for people doing positional bring down your stop loss from 152 to 145 now. So now even for positional we are risking just 1 point. Keep booking minor profits along the line.

Have a good day !!
Trade active: CMP - 138.1 .
I HOPE YOU are in with me.
140 PE - 4.2
Trade closed manually: Sorry, I have been busy with things, so didn't and can't update my positions anymore. Hope you were able to trade the setup well.
Comment: Forming a channel, watch for the breakout above white line. Chart closed for me.

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.