For Study - Support based trade
EID Parry
I already traded in this. Exited in profit.
Sharing this for learning and observation.
Stock price taking bounce when it comes near 50 MA. I took a 1:2 risk when the Price came near 50 MA. Kept trend line as target.
Support based trades may not work all the time. Risky trades.
One of the reason I took this trade is because PPFAS mutual fund bought these shares. I thought once the selling is absorbed it should give a spurt, later it continues to move up if more buying comes or go down if sellers take over. Whichever case I followed GTT.
Price retraced to 50 MA now with no volumes, I am expecting a bounce again but this time I will watch and observe.
I already traded in this. Exited in profit.
Sharing this for learning and observation.
Stock price taking bounce when it comes near 50 MA. I took a 1:2 risk when the Price came near 50 MA. Kept trend line as target.
Support based trades may not work all the time. Risky trades.
One of the reason I took this trade is because PPFAS mutual fund bought these shares. I thought once the selling is absorbed it should give a spurt, later it continues to move up if more buying comes or go down if sellers take over. Whichever case I followed GTT.
Price retraced to 50 MA now with no volumes, I am expecting a bounce again but this time I will watch and observe.
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