Novicetrader2015

TATA POWER - Swing (Fibonacci Retracement)

Long
NSE:TATAPOWER   TATA POWER CO LTD
Stock has risen from Golden Fibonacci Level of 38.2%. If sustains above TL and crosses 111 on Daily candle close then can target levels of 115, 120 and 125
Comment: First target reached in 1 session only. Can book 40%
Trade closed: target reached: 2nd target also hit, can book 80%. Awesome swing trade

Comments

Today possible target 111 ?
Reply
Novicetrader2015 jayeshkarmur1100
@jayeshkarmur1100, Today not possible..market is bearish.
Reply
jayeshkarmur1100 Novicetrader2015
@Novicetrader2015, if the market positive on monday so target possible 111?
Or, june expiry possible 115 ?
Pls suggestions because i have CE 115 @3
HOLD YA EXIT ?
Reply
Novicetrader2015 jayeshkarmur1100
@jayeshkarmur1100, Stock should touch 114.70/115 by month end but needs to break the TL mentioned in chart on Daily closing basis.
It might retrace to 78.6% Fibo levels on Monday/Tuesday before bouncing back up. If your loss is big then exit if Daily candle closes below 105.50.

Just a suggestion - Don't trade in Stock options unless you have 2+ years experience and good knowledge of Options Greeks
Reply
Novicetrader2015 jayeshkarmur1100
@jayeshkarmur1100, Your monthly target reached today itself, hope you earned good :)
Reply
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