Veluri sir, I am holding VENUS REMEDIES BOUGHT AT 279 as per your call with the stop loss of 252 as mentioned. Now the SL has been hit, and it closed at 247/- tomorrow what should i do?
1) Should i exit at whatever price at the opening bell?
2) Must i wait and see that it trades below the low of previous close and then exit?
As i am a new to this kind of putting SL, please explain me what method to adopt either 1) or 2) or something different.
Regards
Saivenkat.
Hi...Venkat,
please read thoroughly my entry rules and exit rules.
For your sake, i am repeating them here.
For Entry,
Buy at or above(not very high) recommended price within next 4 days.
That means you should take position within next four days at or above the recommended price as & when the price crosses the recommended price.
You should enter on the same day of crossing the recommended price.
As far as Venus Remedies is concerned, it never gave an entry signal.
I fail to understand why did you enter the scrip.
For Exits,
Sell exactly at the SL when the price touches it. Optimally by placing sell stop orders in advance. It should be on the same day.
Now the course of action, you exit the share tomorrow at whatever the price it opens and book losses.
You should not make any mistakes as far as entry and exists are concerned.
Incase of any doubt before taking positions, just refer to me so that I can help you.