Most of the analysts had suggested buy but it plunged, TA does not work most of the time. Fundamental may play an important role
TheChauhansView
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@bardevolved, I agree.. but only if you are an Investor ( At least more than 3 years if you are ready to keep a stock in your portfolio and is ready to take cash delivery ) then fundamentals are best. However, if anything that you want to trade for lower tf - then technical analysis is a must.
As for the above stock, we never got into the trade - as there was no trade set-up. Please go through below charts where i have explained in detail how and when to take a trade. This is propriety information, but i have shared it to my fellow traders so that they do not get in any trade which does not give a buy trade setup. No trade setup, no trade. Simple.
@bardevolved, The main reason was Kumar Mangalam Birla resigned from the company's position.
bardevolved
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@TheChauhansView, Yes sir may be but company will not shit down so soon I guess.
TheChauhansView
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@bardevolved, Market se darne ka nahi.. simple rule. Have plans ready for any eventuality. If it goes in your direction, how will you trail the SL. If it does not in your direction and goes into range bound immediately, then what are your plans for it and if it goes in opposite direction once your trade is triggered, then how will you manage that trade and when will you get out.. All this is to be done BEFORE you take any trade. And all should be in your WRITTEN TRADING PLAN. No Trading plan - do not take any trades. Please..
psyank281
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Hi, but can you advice that why it is going in bearish zone. The ichimoku chart does not suggest to buy right now. Can you please specify time period too.
TheChauhansView
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@psyank281, Hi, I am NOT suggesting it is time to buy. Wave analysis never can tell you when to buy or sell - it only helps you give next direction. Stick with your trading setup, once you get the trading setup, only then buy it as the next big move is UP side..
Also, please see the starting of my arrow - it is on the right as well as below the current price range, meaning that it might still go down one more time and then we will get a reversal and only then buy this. Got it?