Idea
CMP 78
Observations
- The chart is a 15 min observation of the stock
- the stock is in downtrend channel
- & that the stock has reached trendline resistance zone at the upper end of the channel
- 50min EMA (currently at 77.80) has acted as resistance in the recent past
- 20 min EMA is at 77.30
- Below 20 min EMA the stock may fall up to 74.50 where there is channel support
Sell with a stop of 80.60
Target 76 / 74
DO review your trading plan and plan your trade accordingly...
Take care & safe trading...!!!
CMP 78
Observations
- The chart is a 15 min observation of the stock
- the stock is in downtrend channel
- & that the stock has reached trendline resistance zone at the upper end of the channel
- 50min EMA (currently at 77.80) has acted as resistance in the recent past
- 20 min EMA is at 77.30
- Below 20 min EMA the stock may fall up to 74.50 where there is channel support
Sell with a stop of 80.60
Target 76 / 74
DO review your trading plan and plan your trade accordingly...
Take care & safe trading...!!!
Trade active:
Idea
coming down
Cmp 76.8
coming down
Cmp 76.8
Comment:
Revise Stop loss to 79.60
Trade active:
Idea
CMP 77.50
So far so good...
moving exactly on expected lines...
Bounced from 76.10 to retest trendline and
now falling back again...
CMP 77.50
So far so good...
moving exactly on expected lines...
Bounced from 76.10 to retest trendline and
now falling back again...
Comment:
77
Trade active:
CMP 77.50
Carrying trade forward
Carrying trade forward
Trade active
Trade active:
Idea closing at 79.60
Carrying trade forward
Will review further tomm
Carrying trade forward
Will review further tomm
Comment:
My apologies for not updating about idea yesterday...
CMP 82.25
As an exit strategy one can look to sell Idea at current levels
and we will look to exit around 80
SL 83.50
CMP 82.25
As an exit strategy one can look to sell Idea at current levels
and we will look to exit around 80
SL 83.50
Trade active:
Idea
CMP 80.65
CMP 80.65
Trade active:
CMP 79.75
As suggested earlier we would be looking to exit around 80...
So we are Booking profits partially...
As suggested earlier we would be looking to exit around 80...
So we are Booking profits partially...
Comment:
Idea
CMP 78.80
Booking profits competely and closing the trade...
CMP 78.80
Booking profits competely and closing the trade...
Trade closed: target reached
Comment:
There were some elementary mistakes that we should have taken care of and should have avoided...
Booking partial profits when target 1 was achieved was right but there after
Here were some mistakes that we made...
sharing so that one can learn and avoid those mistakes and make a better trader ....
1. Should have trailed SL to 78.30 instead of keeping it at 79.60
Looking at the charts will suggest the importance of 78.30
The stock came out of the falling channel....
There was a clear indication and ample time to exit from short position at cost itself for balance position... but we did not obey what charts were telling us... that too loud and clear
Even at 79.60 we should have exited but were adamant and expecting the stock to fall because of bias of our postion & We almost paid the penalty as the stock went up to 83
but luckily for us, again charts were at rescue and suggested not to panic but add short position again around 82.25
So yes, Although the trade has given good profits...we r not happy with the way we earned but I sign off thanking and respecting charts for helping and bailing us out this time...
Lesson to be learnt
If we are looking at charts for our trade we should Listen to charts completely
and not let our will / expectation / ego to come in between beacuse our expectation always has a desire attached to it and we become bias which is not good ....
Regards & Take care...!!!
Booking partial profits when target 1 was achieved was right but there after
Here were some mistakes that we made...
sharing so that one can learn and avoid those mistakes and make a better trader ....
1. Should have trailed SL to 78.30 instead of keeping it at 79.60
Looking at the charts will suggest the importance of 78.30
The stock came out of the falling channel....
There was a clear indication and ample time to exit from short position at cost itself for balance position... but we did not obey what charts were telling us... that too loud and clear
Even at 79.60 we should have exited but were adamant and expecting the stock to fall because of bias of our postion & We almost paid the penalty as the stock went up to 83
but luckily for us, again charts were at rescue and suggested not to panic but add short position again around 82.25
So yes, Although the trade has given good profits...we r not happy with the way we earned but I sign off thanking and respecting charts for helping and bailing us out this time...
Lesson to be learnt
If we are looking at charts for our trade we should Listen to charts completely
and not let our will / expectation / ego to come in between beacuse our expectation always has a desire attached to it and we become bias which is not good ....
Regards & Take care...!!!
Makes a low of 76.10