Trade rationale

Other – Study mentioned in Notes Below

Short Term Bullish View confirmed by the fact that the day candle taking support of 100 Day Exponential Moving Average as well as Monthly Pivot Point with above average volume. Trade Entry at Rs 3269 (Above Monthly Pivot Point-P), SL of Rs 3200 (lower wick of the red candle) and target of Rs 3466 (Weekly Pivot Point-P). Trailed SL to Rs 3350 at March Monthly Pivot Point as CMP moved up to Rs 3407 SL trailed to 3417 (weekly resistance now acting as support) as CMP moved up to Rs 3447