When the market is choppy its really difficult for traders to make money. Stop losses start hitting and the next day the stop losses which where hit start achieving targets. So extremely tough times for traders to make money. But in all these tough times we have a very short ans extremely risky trade ,so strict stop losses are important. This trade should be strictly considered for maximum duration of two days i.e till Friday. The stock is "Hero Motor".
If you see the 1 week chart of hero motors after yesterdays huge down fall today it has formed a inverted hammer. Second it has decreasing volumes. For example in that huge negative fall the volumes are very very small. So its good time to enter and these levels.
We are looking for targets of nearby 2000 and stop loss , strict stop loss of 1900.
See syllabus for Technical analysis training in Mumbai,India.
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