The stock has given breakout in the 2h time frame after a good consolidation.This is a short term pick with the targets of 960 and 980.Stop loss will be below the breakout candle at 915 or below the supportive trend line.
This is for educational purpose only.Trade only if it falls as per your risk reward setup.
This is for educational purpose only.Trade only if it falls as per your risk reward setup.
Trade active:
Entered the trade at 933.Capital allocated for this trade is Rs.140000.Short covering is seen today at 940 CE.Thank you.
Comment:
Altough the stop loss was placed at 915 I trailed it further less,that is below the broadening channel pattern (if it closes below 965) as I was confident on the trade and anticipated that there is an optimism left in the stock.Currently I still hold the stock (150 shares) and I have added more quantity today( 40 shares) at 1100 as i saw a strong weekly close after many weeks and I also saw that there was short covering in the 1100 CE.My next targets for the stock is 1180-1200 levels.But,I wouuld not recommend to take fresh positions at current levels as I feel that it has already rallied quite a bit.