BeingNick

Amara Raja - Positional Trade - Long Idea - Target 800 (Bounce)

Long
NSE:AMARAJABAT   AMARA RAJA BATTERI
Amara Raja Batteries - Positional Trade Idea - Buy

Setup - Price Bouncing back from Support Zones & making a Higher high first time after being in downtrend

Entry - 740 - 770 Buy Zone

Target Price 1 - 800, Once crossed 840 can be seen as next achievable target (Target 2).

Stoploss - Prices below 695
Ideally this is an investment idea and in case market crashes or sees sharp correction, more position can be added and average price can be brought down further. This is purely an individual call and should be taken based on individual risk profile.

Please trade and Invest based on your risk profile and knowledge.
Trade active: Stoploss Triggered. Close the position at 690 if you cannot bear the drawdown and add more positions at much lower levels. The sell off may persist for many weeks.
Much lower levels can open up and much deeper corrections till 400-500 levels.

Disclaimer: Remain in this trade only if you understand the business and have the risk profile and ability to add to the position at much lower levels. Otherwise book loss.

Stoploss was 695. Triggered.
Trade closed: stop reached: Stoploss Triggered and see lower levels opening up.
Closing the trade.

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