Need to exit the trade if price breaks the trendline.
Retracement at Point B is almost equal to retracement at Point A. Reversal is expected
Stop Loss: 251.41
Target 1 : 262.49
Target 2 : 276.10
For past few days price is moving in a range at monthly support/resistance level. There are few wigs at around 250 level. This indicates that traders are ready to buy at that level even though there are traders selling a that level.
Trade geschlossen: Stop wurde erreicht
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Price broke the channel. Stop reached. Closed the trade.
Kommentare
Sanjay06
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Looking to go long from the support levels at 235-240. What are your views ?
imdbeststocktrader
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Fundamentals:
Today Ambuja's Q3 results were out. Sales volume has fallen. Not looking good. We will get more stable reaction from the market tomorrow.
Technicals:
Price has broken the trend line and it is near 200SMA which can act as a support. However, I feel it won't hold and the price will fall further. The price can fall furhter till 220 - 210 mark.
As of now I would suggest to wait and not to go long.
Also as per current market scenario I would suggest to place stop loss for all the trades that you order