Description
⋅ Sector has created a bottom and broken the structure. Will likely rally up to last month's high in this month. NSE:CNXMETAL
SL @ 4828
TGT @ 5460 Comment
⋅ Setup used is the same as that of the Bank Nifty trade I had posted earlier this month. Check that out too.
Comment
⋅ Trail SL near about to entry level. We will not lose money on this trade now.
I had preferred HINDALCO as it follows the metal index and it is in good M2M profit. SL @365 now.
If anyone entered in VEDL, it is weaker because last month was a strong bearish candle closing so reversal might take longer.
Trade closed: target reached
⋅ Target reached in the sector. Trailed Hindalco SL to 393 and will hold till 420 at least.
Trade closed: target reached
⋅ Exited Hindalco @422