Tata Global Breaks out Consolidation, Moving Down

The price action breaks out from the rectangular consolidation indicates weakness.

Target1: 131
Target 2: 128
Hi Neeteshji,

Please suggest i have shorted at 137.5... should i hold for target of 131 within 1 week timeframe or should i exit on monday, Please advise.

Anand Kumar
+1 Reply
NeeteshJain TOP Ankumar2016
Yes you may hold it for the target of 131 and keeping a stoploss at 144.
Ankumar2016 NeeteshJain
Thank you very much your reply..
+1 Reply
NeeteshJain TOP Ankumar2016
Anytime, wish you have a good one.
Thank you Neetesh ji
Neeteshji, please tell me what is the stop loss for this trade
+1 Reply
NeeteshJain TOP Ankumar2016
Stoploss shall be the high of rectangular consolidation i.e. 145.

I would recommend when you have high stoploss then in order to control risk, it is wise to take small position initially and once you find the price action moving to your direction then you start building up to it.
Seema it may remain in the rectangle for some more time.
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