Hello Sagi
Regarding your buy call on 3I can you confirm your logic in making the buy call will hold if scrip moves below 290-288 range. Right now i feel it is bit dicey and a touch and go situation. If it turns upwards from here it is very good.
Otherwise dont you think it will be a good buy at 280-282 levels. Of course i will not go short on this scrip now but was wondering whether pickup at lower levels will be possible if 290-288 fails to hold. Monthly S1 is 290.50.
why i mentioned monday is a touch and go is that on friday it took out previous days low(292.70) and closed at the previous day low price.
Usually in such type of candles i see a sharp reverse move upwards. So on monday it may go to 289-288 level and bounce upwards. These are all just possibilities and assumptions.
But why i raised the query was one of the most important support levels for the scrip at present is 290.60(say a small margin to the lowr side) so what if it is substantially broken. The scrip managed to close just above 290.60. Moreover i feel scrip will be really bullish only if it crosses and trades above 304 levels at least for the present. I hope you understand my thinking.
This is where Ratans logic of using SL and re entering scrip comes into. But then SL depends on a persons ability to absorb the loss he is willing to accept . As you said it should not be defined by you.The trader should decide on SL.
Kindly note this is not a difference of opinion or suggestion. But thinking of a possibility since most of my studies are based on short term periods.I do not follow fundamentals .Correct me if i am wrong.
Regards
Saji
Regarding your buy call on 3I can you confirm your logic in making the buy call will hold if scrip moves below 290-288 range. Right now i feel it is bit dicey and a touch and go situation. If it turns upwards from here it is very good.
Otherwise dont you think it will be a good buy at 280-282 levels. Of course i will not go short on this scrip now but was wondering whether pickup at lower levels will be possible if 290-288 fails to hold. Monthly S1 is 290.50.
why i mentioned monday is a touch and go is that on friday it took out previous days low(292.70) and closed at the previous day low price.
Usually in such type of candles i see a sharp reverse move upwards. So on monday it may go to 289-288 level and bounce upwards. These are all just possibilities and assumptions.
But why i raised the query was one of the most important support levels for the scrip at present is 290.60(say a small margin to the lowr side) so what if it is substantially broken. The scrip managed to close just above 290.60. Moreover i feel scrip will be really bullish only if it crosses and trades above 304 levels at least for the present. I hope you understand my thinking.
This is where Ratans logic of using SL and re entering scrip comes into. But then SL depends on a persons ability to absorb the loss he is willing to accept . As you said it should not be defined by you.The trader should decide on SL.
Kindly note this is not a difference of opinion or suggestion. But thinking of a possibility since most of my studies are based on short term periods.I do not follow fundamentals .Correct me if i am wrong.
Regards
Saji
differnt people adopt different stategies in the market.These startgies are built by the individuals over time and experience, their adaptability to new conditions and changes and also their risk covering capacity. So to say one strategy is better than other is not correct. I have know the pitfalls of the SL , many occassions and therefore have a devised my methods. ratan , on the contrary , believes that a SL is good for him and best suited for him. It would be foolish on my part to claim that my strategy is the best, as my psychology , style may be entirely different from his. For example , I am a risk taker compared to him. So there is no comparision of strategies at all/
However , we have entered into an interesting area of finding out the methodology. Let us find an answer to these two methods .
Case (Sagi's method) Sagi holds 3i infotec at Rs 309 and does not goin a stop loss . He expects the stock to go up to 331/368 over a period of 2 months. he is holding the stock as he bought the stocks as an investment
case 2. (saji's method} He bought at 309 but decides that his stop loss is 290 and has sold the stock at 290 hoping to buy back at lower level .
( kindly modifyn it suitably and give your target price)
we will watch as to what happens real time? ok??
In my opinion the stock will be extremely bullish after it crosses 321