Trent-The Trap-False Breakout Above 805 (Wave Analysis)

This stock has limited trading opportunity in current scenario. Possible Trading Strategies mentioned below

• Sell below 625 for downside target -540 which is 61% retracement of upside last wave (365 to 809)
• Buy above 725 (strictly hold your buy positions till it holds above 725 as false breakouts can
happen above 725 as they are extremely choppy moves)
• Sell below 540
• Buy Above 810

Long Term Scenario - Positive once 810- critical level gets broken upside to be reviewed later.

Trade active:

Holding 625 --------- Traders could have taken short term buy as 625 was key level - a very close buying opportunity was available when stock hit 630 with a risk of 5 points only

Trade active:

07:57 Hrs / 25th Jan2021

Last Price - 665

If stock falls below 625 then next support or profit booking zone comes in 540-550 as suggested in main idea. Thanks

Trade active:

15:21 Hrs / 29th Jan2021

Last @ 1599

Fall started below 1625 as suggested in the idea - will it reach 1540 ?

Happy Weekend !!!

Comment:

15:48 Hrs / 29th Jan2021

My Bad

Correction ----------------- 599 -------------instead of 1599 & 625 -------instead of 1625