Looking at chart above we could see that market was ready for a bounce as it has bounce back from same area two times earlier since april this year and global cues today suggest the same.
hi afzala, atr is average true range, so if atr(5)of your stock is 5 on the day which you buy your stock so this way your stop loss would be 3*atr(5)=15 i.e 15 rs less than your buy price.
Looking at chart above we could see that market was ready for a bounce as it has bounce back from same area two times earlier since april this year and global cues today suggest the same.
Thank u very much for your pre market view.
ReplyDeleteRegards
hi renu
ReplyDeletecan u explain wha is 3 Atr
hi afzala,
ReplyDeleteatr is average true range, so if atr(5)of your stock is 5 on the day which you buy your stock so this way your stop loss would be 3*atr(5)=15 i.e 15 rs less than your buy price.
Hi renu,
ReplyDeletethis was a nice chart.. can u let me know if there is any site where this chart is available on a daily basis?
Hi ketan,
ReplyDeletei scan my software EOD to get this chart.
renu