UPDATED CHART
- GTL INFRA as expected gives a gap up on monday. it did so with good volume increase.
- The only negative point to note here is the bearish candlestick pattern.
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DAILY CHART
WEEKLY CHART
DAILY CHART
- GTL Infra breaks out above 42.
- in daily line chart it seems to have broken out of a triangle pattern with target of 59.
- One can keep stop loss of below 42 for going long.
- weekly chart also shows a daily and weekly close near previous closing prices levels of 45 and 46 are important for the upward momentum to continue
I think it was MASH who asked about GTL INFRA LTD. for those who are long can hold it with a stop loss below 42 and trail it. If it closes above 45 and 46 the upward momentum will pick up
ReplyDeleteSan,
ReplyDeleteThanks for remembering.
But i was thrown out by a whipsaw when stock came down from 42 to 40.1.
Being raw as i am,plan was not ready to reenter.
I had 4 lots at 40...:(
Hope my planning and following will improve.
:)
thanks
@Mash
ReplyDeleteYou had done it the right way. You had a plan and when the stock went against you, You had the guts to cut your losses.
The stop loss fine tuning takes time to understand and learn. But always when it goes against you stay out. If it shows a gain stay with it with the help of trailing stop loss.
One of my favourite quote on this subject was written by Jesse Livermore Here it is.
"I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit."
Thanks
San
Dear San,
ReplyDeleteThank You very much for the charts & keep up your good work.
Thank you Karthikeyan
ReplyDeleteSan sir,
ReplyDeletei am short on Tata motors at 778 (spot) and long at 785...please kindly advice me when to exit shorts and when to exit longs...waiting for your reply...thanks in advance
hello san
ReplyDeletewe all really love the way u eye this financial jungle. your attitude suggest u got a passion for watever u r doing. keep enjoying your work the way u always do.
regards
Thank you rochak
ReplyDelete