KK's Corner: Zensar Technologies
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In the latest Friday webinar, I shared my thought process behind my latest entry in Linde India. Just a few minutes ago, I bought Zensar Technologies where the set-up is no different from that of Linde. The chart below highlights a few factors that were crucial behind my entry in Zensar.
The occurrence of pocket pivot candles indicate buying interest. Pocket Pivot is a candle where the current up day’s volume must be larger than any of the down volume days in the prior 10 days. Here is the video on pocket pivots if you are interested. https://www.youtube.com/watch?v=NNcAG-PylxU
I took the trade today when the Pocket Pivot confirmation occurred. My entry was at Rs.586. If you look at today's volume, it is higher than the volume of the down days recorded in the last 10-days. You can find similar pocket pivot characteristics in Linde India chart too.
My stop loss is at Rs.543 which is couple of ticks below Friday's low. I will exit 1/3 rd of my position at 1:2 risk reward and trail the rest with D-SMART in 1% Renko in daily time frame.
Hope this helps!
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