GAIL fails to break down
Updated
Stock was selling off well and suddenly the weekly support around 300 gets respected. Open interest suggest that market is negatively biased. Using cloud as the guide taking a short trade with stop at 332 and target 360. A portion can be held on to see if market breaks above 360.
Trade closed: stop reached
Booked some earlier since price was not moving and stopped out of all position todayNote
Huge price movement from 320 to 350 and closing at 340. This brings this market on the radar again. Hopefully by next week end we should have an entry.
a236z
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