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@htntrade
ReplyDeleteBank nifty has moved very strongly...surprised not only the bear but bulls as well.Some people call it to be manipulated(Mostly people who are left out or trapped with opposite position tend to make such statements,to convince themselves and others that lower prices will come)
Now regarding your position
Its very difficult to give a suggestion specially if it is giving a loss
Exiting a trade is always tough.It will generally retrace 80-100 points from top(For short term trades)...thats where you can exit.But very difficult to say when it will make a top,its running away with out much retracement.Morning did provided that opportunity,but I couldn't write this comment earlier
I expect it to come to 11000.
One of the advice which is given by professional traders is to exit at the market when you realize that your trade direction is wrong.The first loss is the least one.
So it's up to you to choose which way to go about it.
But I want you to look beyond this trade.I want to ask two simple questions
1)Did you keep a stop loss when you were in the trade
2)(Most important one)...Did you made a 'written plan" before you entered the trade?
If you work on above two aspects regarding your trading,you will never end up in this kind of situation...try it.
Hope it helps
Cheers