The above analysis is done purely on basis of Price Action & Chart Patterns.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets
Logic, Entry range, SL and Targets are shown in image itself.
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.
Check out related ideas for easy understanding of how similar setup works and how a beginner can find good swing trades on his own by following this setup with good risk-to-reward ratio. (1) JKCEMENT (2) PIIND (3) MASFIN (4) CRISIL (5) Previous Analysis of TRENT
Similar opportunity in MASFIN -
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
How are you? Just noticed your chart on Trent. My buying is around 700 and it broke 660.
Do you have any suggestion to make for a positional hold?
Thanks
Ritu
AdityaKarn90
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@ritu14, Hello Ritu,
As per the trade plan suggested in my analysis, price has closed below SL, so yes one should exit the trade. As per my limited understanding of charts, I can see more downside in the stock (somewhere between 600-560) if it breaks 625 level.
but if you have bought it for long term or investment purpose then I am sure you would have done your due diligence since the fundamentals look good overall for this company.
In case you have any other query, feel free to ask.
Loss is a lot so I will sell on rise to minimize the loss. Thanks for your response!! May God bless you!
ritu14
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@AdityaKarn90, Fundamental should be good, Its a TATA company but ZARA sales have gone down as compared to H&M thats why it was short at 780 level. I bought it at 690 was a mistake.
How are you? Just noticed your chart on Trent. My buying is around 700 and it broke 660.
Do you have any suggestion to make for a positional hold?
Thanks
Ritu