January 28, 2013

TataSteel Open Trade Analysis

Today Morning Open Trade was TataSteel.

Trade logic was ,Friday TS had failed Breakdown and closing near Highs.

So expectation was continuation of that Momentum if it opens Above Close, which it did today.
After  open and seeing it was sustaining above 407.70-408 level, Initiated Long.

Long was in Immediate profit, then Probable target was 24th Jan Value area High i.e. 412.

But we never know and can never control how market moves and how it achieves probable targets.
All we can control is Risk.

In Day trade Once Trade is in profit , there is no point in seeing it turn into looser.
So tightened stop loss, which got hit in one big bearish bar.

Tatasteel offered one more Long trade @ 11.23, with good n meaningful Delta divergence .
Long after entry back into Initial Balance  which hit Target.

Attaching here Delta Div image., stock later hit 411.30.



In TS we had both side RE of IB, closing @ one extreme, Making it Neutral Extreme day.
Lets see if it will show continuation to it tomorrow Morning. 

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