1. Cipla is taking support near the resistance turned support zone 2. Entry levels for both long and short are mentioned in the chart 3. Target and stop loss as per your risk appetite
To motivate me, give a like and show your support. Thank you!
@segan_the_learner, hey , what is the minimum time frame for swing trades? can i buy "may CE- option" on ur chart basis? as option requires less money. and yes , im aware of risk it comes with. :p your view on this??
segan_the_learner
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@newbieintrading, Hi! What do you mean by timeframe here? Timeframe to be used in charts for swing trading?
newbieintrading
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@segan_the_learner no no sorry... i mean minimum /average time (days/weeks) for swing trade?
segan_the_learner
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@newbieintrading, There's no hard written rule regarding minimum holding time for swing trading. Swing trading is catching the high/low swings of a stock that occurs over a period of time. Generally speaking, the timeframe ranges from a few days to a few weeks. Coming to your query on option buying, try to go with ITM options rather than ATM and OTM. Since the stock has given a close inside the triangle, wait till it retests the slope and then a bullish candle is formed say in 30 min or above TF. You can consider going long at at that time with ITM options.
newbieintrading
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thank you.
Diwahaina
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bought @ 914 intraday.what to do now?
segan_the_learner
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@Diwahaina, Hi! The chart I have posted is for swing trade. However, even if you had taken the trade for intraday, the entry should have been close to 907. The high reached was 921. Even if you had entered at 914, you could have booked profit around 920. Please close the trade as the stock has come back inside the triangle pattern. Please don't trade on intraday basis as the chart I have posted is for swing trading. Kindly seek suggestion at least before entering any stock for intraday. Thank you!
Diwahaina
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@segan_the_learner,
I got a chance to sell @ 920 but I did not according to my risk reward ratio(stop loss 903 and target 15 to 20 point )and also thought there was a uptrend flag triangle .but finally when traingle broke it was bullish.
segan_the_learner
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@Diwahaina, You mean after the triangle was broken it was bearish?