Laurus Lab: Technical Analysis, levels and planning your trade
Laurus lab
In my previous take on the stock when it was trading at 463, a long position in cash market was suggested between 436-463 from a long term perspective and with a warning that below 435 it might fall down to 340-370 odd levels and that one needs to have a plan for the same.
Accordingly I had
I haven't changed the chart but using the same one now... You can see how Technical Analysis has helped us identify levels well before hand...
Once 435 was taken out, the stock has taken support exactly at major support level highlighted in November itself.
Technical Analysis is not about being right or wrong (you are bound to be wrong some or the other time)
Rather use Technical Analysis to
- identify your levels beforehand,
- plan your trade,
- understand your risk and
- manage your trade
Trust the analysis helps you plan your trade.
Like and Follow for more trading ideas.
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
In my previous take on the stock when it was trading at 463, a long position in cash market was suggested between 436-463 from a long term perspective and with a warning that below 435 it might fall down to 340-370 odd levels and that one needs to have a plan for the same.
Accordingly I had
I haven't changed the chart but using the same one now... You can see how Technical Analysis has helped us identify levels well before hand...
Once 435 was taken out, the stock has taken support exactly at major support level highlighted in November itself.
Technical Analysis is not about being right or wrong (you are bound to be wrong some or the other time)
Rather use Technical Analysis to
- identify your levels beforehand,
- plan your trade,
- understand your risk and
- manage your trade
Trust the analysis helps you plan your trade.
Like and Follow for more trading ideas.
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
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