BANKOFINDIA Bearish Below 265 TARGET 240 STOPLOSS 290

[Ajai Kamath]

A triangle pattern seen along with average volume -> Bearish Trend

TRADE PLAN:-
SYMBOL – BANKOFINDIA
DIRECTION – SHORT
ENTRY – 265
SL – 290
TARGET – 240

[sangeetha.a]

hi, this is a good analysis. but you can take 300 as stoploss, can you explain why 290 stoploss

[Ajai Kamath]

Dear @sangeetha23a, I really appreciate your feedback, it really helps to learn. Unfortunately this time I don’t have a concrete answer. I hope you mean that I should consider Point E as my stop loss which is valid in the case of A, B, C, D , E pattern. However, I didnt take Point E as my stop loss in this case as the pattern here is A,B,C,D,E, F & G and hence I have gone for Point G (not marked in the image). Here level 290 is the point lying on the triangle before it is reversed to a bullish trend. For me both Point E and level 290 looks right, but note 100% sure. What is your opinion?

Dear @eqsis @murugan sir, please help.

[EQSIS]

Here the volume while giving breakout is not great to get conviction to trade, Triangle indicate aggressive nature of both bulls and bears, hence we need good volume to take place.

As far as Stoploss is concern, i would generally place above the recent top with good volume. Here Below D is the Entry, Then E can be place as stoploss.

i appreciate this kind of healthy discussion while learning analysis.

[Ajai Kamath]

Thanks Sir.

[Author]

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