Trading Journal on 5 June 2017. BhartiArtl,Hindunilvr,BPCL,ACCHINDALCO,BERGERPAINT,ASIANPAINT,COALINDIA


BhartiArtl bought @ 375.50 Exit @371.50 Stoploss Triggered

 Bharati Airtel Bought at 375.50. the stock was in little downtrend consolidation till 2 days ago. the stock broke consolidation trendline yesterday and made a sharp move.
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After the move, the stock witnessed an intraday correction. After the correction, the stock shown an uptrending possibility in the early morning (Expected a "V" shape recovery). Because the Trend seem to be changed from down to up.

That's why i bought the stock with the expectation of uptrending target 380, stoploss @371.60 previous day low (Considered it is the support area). But the stock hit stoploss.
The Actual Support of the stock is at 366 levels
Here i bought the stock based on the assumption that the stock changed its momentum because the trendline breaked. But the reality is that the we can not say that the trend changed with only trend line breaking. at least on "Higher Low" pattern is needed for true trend change.
 Read the article "Conditions to be met for a true momentum change"

Read the Article Trendline break and Momentum Change

Here the Trndline has brok but momentum still Downside or sideways or not yet changed to the uptrend

HINDUNILVR bOUGHT @1097 EXIT WITH NO PROFIT NO LOSS
hindusthan uni liver bought at 1097 on the expectation of up move. the stock was in uptrend for few months.
The stock little corrected yesterday and again shown a possibility to upwards movement.
The stock bought based on this rule.All uptrending stock breaks it's resistance level easily (resistance will be weak for upward stock) and it's support level will be strong.
But the stock did not break the previous resistance level today.
Nifty made a 20 point gain today and move was to little upwards. But the MNC and FMCG sector completely sideways move.

BPCL Bought @ 733 Exit @729 with Small Loss

Here i bought the stock at 733 and exit at 729 with loss. I bough the stock on the expectation of upside on the following assumption

The stock broke trendline two times and stock price went above day befor yesterdays trendline. that's why a came to the conclusion that the stock will go high. Stock had made an attempt to go up 2 days ago.
Actually The trade was low probability trade. because the price not yet reached an uptrend level. the price will reached to uptrend level only meeting following criteria
 Once it breaks "Lower High Lower Low" Pattern
break Previous Lower High which is resistance
Read the Article below Condition changing trends

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