SoW

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BajajFinserv given first sign of weakness in weekly charts with breakdown below 9450 neckline. Trading and sustaining below 9450 it can test 8580 with positional view. SL for the trade will be 9950 on weekly closing basis. Since we are talking about SL on weekly closing basis, it must be hedged properly to reduce damage in case of sudden spurt on upside. Alternately trading with risk defined option strategies will be an good idea. Adding it to my short basket for April series.

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Disclaimer: All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.

All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max use it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).

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Made low of 8960 before moving up again. 9450 to 8960 is also not a bad target.