I simply cut my losses and by doing so kept them small. I’ve had my share of bad decisions in my trading career and keeping losses small in order to avoid huge losses is the toughest part.
Why is that so? From a psychological point of view nobody wants to sell at a loss as in most situations in life making mistakes and admitting them is associated with being a loser. That’s why most people prefer sticking to a losing position. They don’t want to be labeled a loser. So they start hoping their position will turn around and end up being a huge winner. The stock then keeps tanking. Then they hope they will be able to sell for a break even. The stock then goes down even more. That’s when being objective and balanced isn’t possible anymore. Losses have become huge and they are trapped.
Bharti airtel is trading in a perfect channel taking support and resistance at upper and lower end of trendline.Break of 372 can lead airtel back to 343 levels.
Buy above 380 Tgt 384,388 and 391
Sell below 372 TGT 367,363.8 and 360
Sell below 1057 Tgt 1039,1022 and 1000
Buy above 1095 Tgt 1115 and 1136
Buy above 175.2 Tgt 177.4,182 and 185.5
Sell below 170.2 TGt 168,165 and 162