IDEA is looking good with strong consolidation prior to 13 & 15

28 giu 2020

Idea's chart is looking very simple & clean for further up move.
Why I choose this trade:
Technical Analysis

• Idea shot up from 6 to 12.55 within few trading days.
  
• It cooled down to the 9 after big move and found very good support at 8.50 - 9
  
• Since last few trading session it is ranging between 9 to 11 but not breaking 8.50 except 1 trading session.
  

Market Analysis

• Idea told to Supreme Court that they are no in position to pay dues upfront.
  
• Government is not in position to bail out at all due to Corona Crisis.
  
• Declaring as bankrupt is the worst case scenario because many banks having exposure in Idea.
  
• Most important taking out Idea from the Telecom leads to fear of Monopoly.
  

I strongly believe that shutting down operation is not solution here because the user base is still very large & it will affect on many people.
So best option could be paying dues in installment which Idea is asking.

10 lug 2020

Trade chiuso: stop raggiunto

Stop loss hit.