by This trade is about TATA ELXSI that I took around NOV 2023. The trade started off well and the IT sector was also setting up well. So I thought that this stock would do well. The stock also showed some signs of the STAN WEINSTEIN Pattern.
However, the trade didn’t go as planned and I was quick enough to cut the trade as soon as possible. All the charts are self-explanatory. Go through the charts and just observe the trade. I publish both my winning trades and Losing trades in my blog. You can consider subscribing to my blog if you like my writings.
WEEKLY CHART:
In hindsight, it may look that the volume was not that impressive on the day of breakout. But it was above the average volume for the week
RS also positive:
Monthly Chart:
Fundamentals:
Acceptable fundamentals seen :
Read Here…..
Downturn of the stock:
Trade went up well. However, the stock started trending down and closed below 50 DMA with no sign of demand and volumes also increased on the downside. RS also entered the negative zone.
Exited the trade with a loss of 5.4% .
WEEKLY CHART:
AFTER TRADE SCENARIO:
I just keep a look on past trades, to see how the price reacts and to see how accurately I was able to predict the move. As of today (Feb 13 – 2024) the stock has gone to show some more weakness.
