1. I took trade because of breakout of the level (green line 146.8). 23 feb 9:15
2. But price goes below my buying level at 14:15
I should have exited the trade at this point, where price going below my buying candle low.
When price goes below the low of breakout candle
Exit the trade.
Or enter in opposite direction.
Big green candle influenced me to enter in the trade.
But, just after my entry not a single candle crossed my entry level. 4-5 candles of consolidation and then price breaks in downward direction.
Again after a fall, price seems to reverse. It made a green big candle, then price starts to accumulate for 4 candles, after that gives a breakout. Again it looks like...
Mistakes:
1. I entered at the breakout candle of the triangle pattern top line.
Solution - should entered, after price crosses the high of breakout candle.(which never happened)
2. I should have exited the stock earlier.
Solution - I entered in a breakout candle but, as soon as the price goes below that candle, i am supposed to exit the trade.
3. Wrong...
I AM NOT A SEBI REGISTERED ADVISOR PLEASE CONSULT WITH YOUR FINANCIAL ADVISOR BEFORE INVESTING.
As always tata shares gives us rewards this time our pick is tata steel which show us good strength. It is in an uptrend since many weeks. It becomes safer option as an investment point with less risk.
our stoploss should be at 100 and our target is about 150.More than 1:2.
I am writing this so that you all are ready and cautioned about the OUTCOME starting Monday...... We will get a REVERSAL on the Indices starting Monday....... but I cannot say how Long it will say to complete the Selloff....
1. NF fall by apprxx 475 to 730 points.
2. BNF fall by apprxx 1400-2300 points
3. tata Steel future ....... The chart is self explainatory. I...
tata steel is showing a inverse head and shoulder on daily time frame
if the breakout with good volume is possible then we can see 25%upside.......
the is a break out in monthly chart also.......
TATASTEEL Has seen Fresh breakout on the Daily and 4- Hourly Charts. When Observed on the weekly Chart Strong Support at 106 is seen in the stock. Stock Broke the Resistance Levels 106 Retested it and again heading towards higher levels. We are Going long on TATASTEEL Future at CMP 112.25 For the Targets of 120- 125 and Stoploss of 105.75
Double Top pattern visible in Tata steel. The pattern took nearly a year the formation. The probable target can be 900 in the near term and 780 in long term. With an SL of 1160.
Tata Steel is nearby hourly resistance area and trading below average for intraday trader they can go for short at 1265 for the target1 of 1245 and target2 is 1231 with the strict stoploss at 1291.
This study is only educational purpose, Traders trade at your own risk.
Conclusion:
The sell recomentation is only for the intraday trades.
Thankyou
Sell pressure heavy in Tata Steel. Last week Tata Steel closed above 1250, but as the market crashed yesterday, the stock got into a downward trend, and the rally continues today.
Tata Steel broke the Fibonacci support levels of 1240, 1200 and 1175.
The following Fibonacci support levels are at 1152, 1130.
Super Trend, Smoothed Heikenashi and Follow Line...
Tata Steel is following a downtrending trendline zone and Support are tested several times.
So, If this trendline gets upside breakout then this is end of downtrend however closing above 1245 levels will be secondary confirmation.
This is a trade to watch out very carefully as it is going to give a nice risk reward.
