Price could not manage to hold above 200 DMA which it did 12 times earlier. There is a fundamental reason which not technical analysis can spot. All of a sudden the head of the bank was interrogated by anticorruption agencies if this bank has played a role in regard to PNB scam. Traders were quite cautious. How to deal with such unexpected surprises? Stop loss. nothing else can be done.
Now if price goes above 200 DMA and holds firmly, one can enter for long term investment essentially with a stop loss.
Now if price goes above 200 DMA and holds firmly, one can enter for long term investment essentially with a stop loss.