Hi Everybody,
Amaraja Battery looks good for a reversal from these levels
Closed on CMP 739.70
It is trading between a range of 757 - 730 since the last 15 trading sessions. Also, if one can see that the stock is in downtrend after htting the high of 1025.55 but no massive selling is coming as you can see that accumulation is gong around which clearly indicates that its the time for reversal for this stock.
Keeping 696 as stop loss where it completes its harmonic pattern one can enter the trade for good returns.
Trade Plan
-------------
CMP - 739.70
Entry : 720 - 750
Stop Loss : 696
Target 1 : 790
Target 2 : 815
Target 3 : 865
Risk : 33.95 points / 4.87%
Reward : 132.15 / 18.09%
R:R = 1: 3.71
Disclaimer : I am not SEBI registered analyst, this is for educational purposes.
Please trade as per your risk and do consult with your financial advisor before taking any trading decisions.
If you really like the analysis , please do comments, LIKE and Follow me
Thanks
Amaraja Battery looks good for a reversal from these levels
Closed on CMP 739.70
It is trading between a range of 757 - 730 since the last 15 trading sessions. Also, if one can see that the stock is in downtrend after htting the high of 1025.55 but no massive selling is coming as you can see that accumulation is gong around which clearly indicates that its the time for reversal for this stock.
Keeping 696 as stop loss where it completes its harmonic pattern one can enter the trade for good returns.
Trade Plan
-------------
CMP - 739.70
Entry : 720 - 750
Stop Loss : 696
Target 1 : 790
Target 2 : 815
Target 3 : 865
Risk : 33.95 points / 4.87%
Reward : 132.15 / 18.09%
R:R = 1: 3.71
Disclaimer : I am not SEBI registered analyst, this is for educational purposes.
Please trade as per your risk and do consult with your financial advisor before taking any trading decisions.
If you really like the analysis , please do comments, LIKE and Follow me
Thanks
Trade closed: stop reached:
Stop Loss triggered. Trade Closed :(