hi,
Maha seamless is in downtrend on higher timeframe charts, although stock going through a a bounce phase two times since october 13 and in nov 13, both bounces failed to clear 185 zone, clearly a supply coming in at this level repeatedly.
A positive divergence seen on higher timeframe charts, and stock did one positive sign as of now is holding 160 levels. So it will be seen how the stocj behaves here.
On daily a first sign of strength on short term is holding 167 level. And subsequent move to clear 175 will be added sign of confirmation. Till then stock in sideways to Up as of now. Why up bcoz its showing a support at this levels of 160.
For retail investors its always been hard to ride profitable positions, while at the same time, we are always inclined to hold loosing positions and justify with some vague theories.
A solution one may find it useful is trade those stock in which you got trap, i mean use short term buy opportunities to buy and then sell it on smaller profits, this way your cost of acquisition gets lowered. But you need to follow a system here, whatever it may be, strictly.
Or hold it and pray that some levels to hold.and exit as and when loss taking is comfortable.
