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the latest red body covers the previous green body
recent price rise is seen
volume has increased
short position should be created with a risk of 32
TRADE PLAN : stock name : GAIL , trade – short position, entry below 533, stop l0ss 533, target 469
Respected madam,
as per the chart every conditions satisfy but entry level should be 496 because between the two body which ever is less has to be considered as entry level.
Entry level – 496
Target – 459
Stop loss – 533
RESPECTED SIR ,
after identifying the bearish engulfing candle , we expect the price to fall then why should we wait for the previous low price, rather than selling the shares on the next day at opening price itself. maybe we can calculate the risk from the previous low to get more return.
Respected madam,
As per the chart the price should go below the 496 because after that only we need to buy or sell if the price doesn’t go below the level we cannot buy or sell because we don’t know it will go up or down. if price goes below that level it satisfy all the conditions so we can buy or sell the stock.
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