Consolidating after big fall
MAHKTECH - Hang Seng TECH Index.
After 12% fall price is consolidating from one month.
-ves
Chinese markets are weak, there is a chance this consolidation is a selling too.
+ves
May be as a contra bet it may attract buying.
So Strict SL is must. Enter till 12.5 with SL 12.3. Hoping for a target of 13.5 and more if buying comes.
Can try for 1:3 now
I bought 1000 units at 12.5 . SL Hits then 250 loss . Target reaches then 1000 profit. I do not wait too long in this. I am in a profit of arodn 250/- now (after brokerage).
Note: I am trading in ETFS these days, there is -ve news worldwide but Indian stock market is not caring about it.
Individual stocks may see huge correction just like that, then every influencers and news channels talk about the -ve reasons. I am new to trading, not sure how do I handle so much fall. ETFs may give less profits but the fall is not huge as compared to individual stocks. This gives me chance to exit may be at less loss or may be I can average down the ETF. Index will never go to Zero.
After 12% fall price is consolidating from one month.
-ves
Chinese markets are weak, there is a chance this consolidation is a selling too.
+ves
May be as a contra bet it may attract buying.
So Strict SL is must. Enter till 12.5 with SL 12.3. Hoping for a target of 13.5 and more if buying comes.
Can try for 1:3 now
I bought 1000 units at 12.5 . SL Hits then 250 loss . Target reaches then 1000 profit. I do not wait too long in this. I am in a profit of arodn 250/- now (after brokerage).
Note: I am trading in ETFS these days, there is -ve news worldwide but Indian stock market is not caring about it.
Individual stocks may see huge correction just like that, then every influencers and news channels talk about the -ve reasons. I am new to trading, not sure how do I handle so much fall. ETFs may give less profits but the fall is not huge as compared to individual stocks. This gives me chance to exit may be at less loss or may be I can average down the ETF. Index will never go to Zero.
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