Tata Global Breaks out Consolidation, Moving Down Short

BSE:TATAGLOBAL1D

Description

⋅ Sep 12, 2016 3:46 PM

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

Target1: 131
Target 2: 128

Comments

Ankumar2016

⋅ Sep 16, 2016 12:49 PM

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.

Thanks,
Anand Kumar

NeeteshJain

⋅ Sep 17, 2016 8:34 AM

Yes you may hold it for the target of 131 and keeping a stoploss at 144.

Ankumar2016

⋅ Sep 17, 2016 9:16 AM

Thank you very much your reply..

NeeteshJain

⋅ Sep 18, 2016 6:33 AM

Anytime, wish you have a good one.

Ankumar2016

⋅ Sep 14, 2016 7:04 AM

Neeteshji, please tell me what is the stop loss for this trade

NeeteshJain

⋅ Sep 14, 2016 7:27 AM

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.

Ankumar2016

⋅ Sep 14, 2016 7:37 AM

Thank you Neetesh ji

ccmoradia

⋅ Sep 13, 2016 8:13 AM

Seema it may remain in the rectangle for some more time.