TATA CONSUMER PRODUCT

Entry at 9:40



1. Price broke out of triangle , so taking an entry at the price 770 with 320 qty.

2. Also, the price is currently above previous day's high, which is indicating that there could be potential uptrend.

3. Target is 2nd resistance line as plotted above , at 776.65

4. Identified another resistance line which is above our target, so we can hold our position until target aimed.

5. Stop loss is few points below the black line inside the triangle i.e at 759.30


Update at 10:15


1. Price hit stop loss at 759.30 so made an exit.

2. It is clear indication of reversal of trend, so it would not be advisable to wait for the price to go our way and just exit.

3. Loss - (759.30 - 770 ) * 320 = (3424)