Short Term - TATA MOTORS

Here's a potential long setup .

CMP - 513.55

Buy close to 509, whatever market gives.
SL - 505 ( 4 Rs )
Target 1 - 518
Target 2 - 531

This is according to a strategy I learnt in an expensive professional course. Let's see.

Trade active: I am entering now at 508.5
Comment: Market and Nifty is not moving, quite flat, getting very difficult to find good trending moves. Let's see what comes in next week. Keep this stock in radar.
Trade closed manually: I closed the trade on 507 incurring 1.5 Rs loss , around 0.3% . Which is completely alright :)

And potentially, it were supposed to be 505 which any layman could have exited , even then, he incurs 3.5 Rs loss on a 500+ Rs stock which is fine.

We will find much bigger winners to compensate for small loss.

The buying interest has dried up. Have to get very stock specific.
Comment: Wow.
Once again, we got saved by the large downfall impending.

That's an important lesson revisited. Cut your losses fast.

Imagine what would happen if we didn't.
We would have suffered around 40 rs loss and it would take multiple trades to cover that loss which sucks.

It's better to take reverse trades but I'm not quite ready to take them if a setup fails. Will try to inculcate that.

And about that expensive course, it's not working . My lines were giving better results.


Yes, my 13 EMA gave me sell signal, sold at 501 and covered at 485, 16 points in 15 Mins, i forced to close since I have to close by 3.20 intraday
dravya Subra1953
@Subra1953, with such a downfall, each indicator will give sell signal. and as traders it doesn't matter how much in less time. You are ignoring the moves when 13 EMA might have given wrong signals. It's important to understand the long term game plan rather than such short term wins or losses. I'm happy with your gain but I'd encourage you to study more.
dravya Subra1953
@Subra1953, the trend was down below 505 itself, when it broke on the downside of consolidation. 501 is a late entry of EMA dekha jaye to. Anyway, money made is money made. Nice work !!
@dravya, Yes, completely agree with you. I was away from 2 to 3 PM and when I back already it was coming down, in fact in my chart it gave a sell signal at 2.15 itself. I will always wait and take a confirmation before entering into a trade. Yes, day by day learning from my trades, I will do a detail study and analyse my trades every day, I maintain a Trade Journal
dravya Subra1953
@Subra1953, That's very good. Trade journaling is a good exercise :)
Took a trade at 509 and exited at 513 Will reenter again Thanks heaps
dravya Subra1953
@Subra1953, NIce !!
@dravya, One more Trade done, entry at 511 and exit at 514 Thanks heaps
dravya Subra1953
@Subra1953, good . you're welcome .
Subra1953 Subra1953
@Subra1953, Done 10k for the day in three hours, Thanks and appreciate very much for making my day, God Bless you