Can we see some profit booking in Axis
Atualizado
I know I know I know that price has formed a inverse head & shoulder and all
-->But if we observe recent rally there is no profit booking and price is at major supply zone.
--> We will get better RR ratio if we short here and if the plan works.
-->So Idea here is Sell CMP @812-814 level
-->SL - 820 level.
Managing the trade:
If the trade goes in our way
*Exit half Quantity 1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
--.If only price give closing above supply line then we can plan for longs.
-->But if we observe recent rally there is no profit booking and price is at major supply zone.
--> We will get better RR ratio if we short here and if the plan works.
-->So Idea here is Sell CMP @812-814 level
-->SL - 820 level.
Managing the trade:
If the trade goes in our way
*Exit half Quantity 1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
--.If only price give closing above supply line then we can plan for longs.
Nota
If market opens above 820 there will be a short covering move possible.Above 820 look for buying opportunities
Nota
Only longs from now on
Aviso legal
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