Are you averaging a losing trade? Is the position in NF?
Nifty is unlikely to give any correction before it completes sell 13 with bank nifty, which is 2 trending days minimum as per current chart scenario.
Not prudent to carry a losing position and also add to it on hope.
Trade is not on hope brother.. Its calculated risk based on my own study..in general i wont carry forward any position..this is my 2nd trade in carry forwarding future contract..
Yes..position is in Nifty future, if Nifty Spot reaches 10900, will add equal qty of NF shorts..with that avarage entry price will be around 10700... SL is 11300 in nifty spot ..hardly 500 points...target is 8600..risk tomorrow reward is 1:4 ..
Different people follow different chart.. But you are right about banknifty , i was expecting bank nifty to reach 23400 when nifty reaches 10900, but now i dont think Banknify will even cross 23000 again in this calendar year...
As long as 11300 not broken upside i will remain will wait for 8600 and later for 6400..
If market prove me wrong, i will have to re-align myself for long term investment plan...