iamPotato

Swing trade in UTI AMC - Entry around 538 (Rejection day)

Long
NSE:UTIAMC   UTI ASSET MNGMT CO LTD
Buy At 538-545 range for an excellent entry.

SL - Exit if stock close below 538, since it will definetely test the low's of the rejection candle.

Reason for the trade: Rejection day

A Rejection Days have a range that is significantly larger than the 10-day average and The ideal swing entry is the Rejection Day midpoint,which can be defended for 1-4 days after the rejection.

Exit when: A daily close below the Rejection Day midpoint breaks the pattern, as this would indicate a retest of the Rejection Day low

Trade active: Entry at 540
Trade closed manually: Stocks is not moving.

Exited at 548
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