The week just ended saw increased activity in SAMP. Both Trades and Volumes were higher than the previous week. Also the Price action was impulsive, suggesting that the counter is poised for a new up trend. Although the weekly candle was bullish and impulsive the momentum had just begun. The daily chart gives a better view of the Price action. We can now see that the counter is turning from a bearish momentum to a sideway movement as it is now trading through a channel between 217/30 to 245/=. That is a very wide channel. Who ever trades towards the middle and below range of it will make decent returns.
Trade Idea -
Buy - 225/00 - 230/00
Sell - 238/00 - 245/00
Stop - 223/10
Caution!!! Trade only what you can lose without complaining. If you are not disciplined to do so, please avoid trading.
If you do not get between 225/00 and 230/00 do not feel bad. If you still want to trade above 230/00, please know where to stop and where to exit before hand.
No comments:
Post a Comment