One can take long position in Bombay Dyeing at current market price 351.50 with strict stop loss around 340-343. Its gaining strong momentum with price appreciation. It had crossed 50 EMA with huge volumes and after consolidation of two days it is now trying to close near day high, we have to take risk assuming it will close near high.
It can go up to near 385 level as strong resistance is stand near that zone. It has came down twice in recent time from 385-386, so we will wait 380-385 level for profit booking, if we feel any change in profit booking price we will mention it on this blog.
Always keep in mind one thing is forever, never trade without stop loss, b'coz it saves you from major losses and frustration.
Happy Trading .....
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
It can go up to near 385 level as strong resistance is stand near that zone. It has came down twice in recent time from 385-386, so we will wait 380-385 level for profit booking, if we feel any change in profit booking price we will mention it on this blog.
Always keep in mind one thing is forever, never trade without stop loss, b'coz it saves you from major losses and frustration.
Happy Trading .....
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
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