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NFTRH+ (public) Bye Bye Bombay

I do some of these NFTRH+ updates publicly to a) show you, the free site reader how well the service – really just a small add-on to the full service – has done (with the odd stinker here or there) and b) so as not to bother subscribers with premium update emails for something I don’t consider very important.

That something is that I am selling India and taking the profit after a 4 month hold.  In NFTRH+ I don’t advise when people should sell, like some sort of trading coach.  I initially advise optimal buy points, sell points and stop loss points.  Faulty trader that I am, I’ll do as I will with my own positions.  We have profit and I am selling.  It’s simple.

Preamble behind us, I’ll take the profits on INDA (and INDY held in other accounts) and say thank you to a nice setup originally highlighted on June 15.  The original target for INDY was 33 and as with the UNG trade that I took profit on last week, it’s probably going there one day, and I probably don’t care.

So the profit is good and it is now, undeniably… mine.  Below is the weekly chart from the update, which also included a daily and monthly (BSE) for perspective.  The sneak out of the trend channel could be foretelling an eventual decline to test support.

The original support (and recommended ‘buy’ point) at 27 is still shown on the chart.  But there is also new support in the low 28’s for investment-oriented people.  In other words, someone fundamentally and long-term bullish on India would buy a drop to 28+ (which I think it has a good chance of doing) and then buy again at 27.

indy weekly chart

Here is a screenshot of the original update’s parameters…

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A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.

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