PSU Bank Index fell 17 % from 52 W high.
Reasons for fall may be
1. Profit booking .
2. Sector rotation.
Reasons to take trade.
1. At Support, trying to capture up move before it goes up or down.
2. Institutions may enter again at lower levels after profit booking.
Enter 73.5
SL 72
Target 75-77
NOTE: High chance of failure as we are going against the trend. If target reaches then book profit.
Reasons for fall may be
1. Profit booking .
2. Sector rotation.
Reasons to take trade.
1. At Support, trying to capture up move before it goes up or down.
2. Institutions may enter again at lower levels after profit booking.
Enter 73.5
SL 72
Target 75-77
NOTE: High chance of failure as we are going against the trend. If target reaches then book profit.
Trade active
Target 75 reached. Waiting for 77 and beyond if it goes.Trade closed: stop reached
Trade closed completely on Friday Oct 4th.Profit 635/-. Units 1000.
Original SL 72 Buy 73.7. Sell 500 at 75.
New SL 74 Buy 73.7. Sell 500 at 74.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.