Hey guys,
I need ur help to evaluate where did I go wrong...
I bought Clutch Auto around 36 long back and IFCI around 52 couple of weeks back..
Now here is the decision I made...
IFCI
On 13th it made long black candle which is followed by inverted black hammer which is followed by (i.e. yesterday) kind of spinning top with violated low of 13th. Since low of 13th was violated and inverted hammer at higher level, I interpreted it like early signal of down move and booked my profit... today it moved up with strong momentum....
At the sametime RSI was also strugling to go up and turning down and 50 MA was around 54 so I thot of selling it at higher level which I can buy again around 54 depending on prevailing situation at that time...
Clutch Auto
On 13th it made long white candle which is followed by piercing black candle and then again black candle... i interpreted it like sign of lil down move and I booked my profit....
At the sametime RSI was also strugling to go up and turning down and MAs were around 63, 66 so I thot of selling it at higher level which I can buy again around 63 or 66 depending on prevailing situation at that time...
Kindly help me to understand where did I go wrong...
P.S.: I m just trying to sharpen my skills.
~ Apurv
Not an expert or analyst....