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| From : Amit Chopra at 09:40 AM - May 06, 2011 ( ) |
Share it on FacebookSSL 360. TGT Later.
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I have EXITED the SELL IOC MAY CALL @ 350, as GOVT of INDIA is planning to reduce the subsidy on various petro products. This may lead to sudden jump of prices of these companies. Staying away is better option with less profit. (Sell Call given @ 356, it never crossed 360 after that, the good thing)
CALL CLOSED.
Target 1 is 325. (by end of this may session) BUT REMEMBER SL 360, I leave profit booking upto u...its individual's decision to limit his/her loss/profits.
Dear Friends, I am Holding overnight sell of IOC ( May) FROM 356.(as I mentioned on friday)
I told u that there is stiff resistance at 360, & it does NOT even touch that level.
| From : Amit Chopra at 02:45 PM - May 06, 2011 (3 days ago) | |
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Importance of level in IOC: key level is 360.......yes 360.
I am hoding my sell position upto next trading week.....Those who have taken the position, If feeling risky...KINDLY EXIT @ cmp....354.30.......with marginal profit. call initiated @ 356.
Importance of level in IOC: key level is 360.......yes 360......................As it is my sell call from 356 with Strict SL 360, that has not breached YET (359.30 high in May series). if not brached, then its fine.
but what will be the trading strategy if it hits 360 & continue to trade above that level ??? Thats the BIG QUESTION.
Again, according to me, at such situations VOLUME plays important role.........So if it closes above 360 with volumes clearly in excess for the last 7 sessions...then it will become buy call.
This is my view...if u have different views u people can share...All are welcom....Its learning with trading method, which is all time favourite of one of the best TECHNICAL CHART ANALYST of INDIA.
Keep learning.
This is for IOC: "Arre mere bapu, tu neeche kyu nahi aata"
cmp 358.15, made high of 358.70. REMEMBER Strict SL 360.
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