It seems soon It will taste 1100 where I ll liquidate the entire position.
I still look for 1100-1119
SL fro my remaining position is at 1039, just below my breakeven.
Any move past 1090 will be furious as we ll see short covering. SL for my remaining position is at 1049. So its a win-win situation now. I am just watching and waiting..which is painful ;)
Stock seems to be forming a triangle pattern with strong buying at the lower levels. Although the upthrust beyond 1090 does not seems good, I am not closing this trade and pushing my SL higher to 1065 with is near my first profit level.
on the rnadom note. how much do u think is the minimum retracement for point C in the cypher. ideally its 1.27 to 1.41 , and u said people take it from 1.13 . hmm google fail to tell if anything below 1.27 is valid.
i see a lot of 1.161 for point C that works. WOndering if its just personal or people do take trades from 1.13 onwards.
Anyways 1.13 first came to my notice while studying Nifty chart. Since then I have started giving due respect to it.
For me anything that goes 1.13 or more below X qualifies for cypher. A close below X is generally preferable but not essential. Untill X I may call it a double bottom Bat qualifier.
Yes, that's my personal preference based on experience.
That means trade is active now