theTradingSailor

Tatachem - Mostly a short opportunity

NSE:TATACHEM   TATA CHEMICALS
Tatachem - Short below 305.4 ONLY closing basis

Will await a closing / engulfing candle for entry - till then waiting for trade opportunity.

SL: 1.2 Points
TGT: 4+ points - will update if traded
Comment: Hold ON - NOT to trade yet. Still its bullish.
Comment: 308-310 will be a resistance zone, awaiting if it closes above or if it fails to close above for a short entry
Comment: 308.65-310.35 to be precise with the resistance zones - Am expecting a reversal here.
OR if closing 310.35 then a good upmove. WIll wait
Comment: I am still not on trade
Comment: Showing resistance now - unable to close above 310.35 (Still the last candle close is 310.30 only).
However its still no bearish signs to enter short - SO WAIT for opportunity.. :)
Trade active: Shorted 1 lot @ 308.4
SL later ll
update
Comment: SL: 311

TGT: 305 // 302-303
Comment: Strict SL of 311.05
Comment: Closing 310.35 -I will go for LONG and exit short
Might not be able to update as the move may be fast.

As of now still holding my short position for a minimal SL
Comment: 308.65-310.35 THIS zone is being respected for quite some time.
Close above or below the zone will make the price move heavily to that side.
Comment: Reverse trade, exited short @ candle closing above 310.35 and bought 1 lot fut @ 310.5 and exited @ 314.5.. Quick 4 points, making up the loss and ending in profit.. :).

Net ended up with 2 points profit.. thats a good money in fut. Infact in fut when I squared off I got 2.3 points profit (lot size 2000).
Trade closed manually: Manually exited @ 2 points net profit

Comments

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