DIVIS LAB


Following observations can be made :

1. Break out from Triangle at 9:40 so took an entry at the price 3416.60 with 70 qty

2. Also, price is below the previous day's low giving an additional confirmation that there could be potential downward rally.

3. Since the breakout happened before 12:30 pm, target is 2nd support line as mentioned in the above chart.

4. Stop loss is few points above the black line inside the triangle, i.e. 3583.60




Update at 10:05

1. Identified support zone where buyers showed maximum strength thrice and now the price is approaching to this zone, hence we should expect reversal of trend. 

2. I am changing my target to this zone. Anywhere between 3326 and 3259.

3. If there is no struggle, then I will continue holding the position.



Update at 11:35

Changing the stop loss to 3456.90 in case there is a reversal of trend . This is done to minimize the losses. There is resistance around the price 3447-3450 hence set stop loss few points above.



Update at 1:15

1. Price hit stop loss so had to exit.

2. I will take a re-entry if price comes below 3400

3. It is important to be disciplined at all levels of trading even if we make losses but it will be minimum loss.

4. Loss - (3456.90 - 3416.60 ) * 70 = (2821)