Identifying the reversal and its timing is quite difficult and risky but sometimes its worth to take small risk. The stock is clearly in downtrend but it is forming Broadening Bottom reversal pattern and RSI is showing divergence. One can buy the stock by providing the SL of low of yesterday. If it works it could reward well. Being a volatile stock one can also try with low investment Options strategy like Bullish Call spread. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
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Entered with Bullish Call Spread for Rs 1.40
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Moved as expected.:)
Trade closed: stop reached
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Although my investment was more than double but I've waited for the target and call spread is closing worthless so small loss of 1.40.
every of your idea are simple, reproducible and fantastic,whether it works or not is not my concern... i continue to absorb you approach....keep up the good work bhatia da..!
praveen.bhatiya
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@Sandipan.mch, Thanks a lot for your nice motivational words.