HDFC



What is the perfect entry and exit ?

1. We can observe in the above chart, there is a breakout from triangle at 9:30 so taking an entry at 2316.50 with 105 qty

2. Also, price went below previous day's low so there could be potential downtrend.

3. Since the breakout happened before 12:30, we can aim for 2nd support line which is at 2303.55

4. Stop loss will be few points above the black line inside the triangle i.e. 2331.85



Update at 10:45 :



1. Stop loss hit at 2331.85 

2. Loss = (2331.85 - 2316.50 ) * 105 = (1611.70)

3. Though price did not cross the upper limit of triangle it is better to exit than to expect reversal of trend.