JUSTDIAL 15m chart study

14 Apr 2020

JUSTDIAL 15m chart analysis

Wait for Just dial to reach the pitchfork bottom and then wait for bounce confirmation before going long with SL below the swing low.

14 Apr 2020

Catatan

Trade setup for aggressive traders:

Buy at 317/304/294 in 1:2:3 ratio (eg: if you are planning to buy 100 shares then buy 15 shares at 317, 35 shares at 304 and 50 shares at 294. This technique is called scaling in.

SL: 280

T1: 335
T2: 360
T3: 375

You can use scale out technique while exiting. ie. exiting 1:2:3 ratio
eg: 50 shares at T1, 35 shares at T2 and 15 shares at T3

PS: I generally don't buy/short everything at once. I always scale in and scale out my entries and exit.

14 Apr 2020

Catatan

Conservative traders can wait for a pitchfork bottom re-test and then decide based on price action (after bounce confirmation)

17 Apr 2020

Catatan

Trade not active.

As mentioned above only aggressive traders got a chance to buy at 317 and missed buying at 304 after Justdial made a low of 305 before reversing. Hence they could have exited complete position at 335 today


Please follow this study at your own discretion.