Ashoka Buildcon at an Important level
Updated
Ashoka Buildcon has closed above EMA 50 @ 77.15 after taking support at MA 9.
the stock has taken multiple rejections from EMA 100 line which also acts as main resistance to the stock price since a long time.
The stock is expected to reach the target price by taking its previous price actions and current closing above EMA 50.
If the stock price reaches target and successfully closes and sustains above EMA 100 then we can look forward to hit target 2.
Place strict stop loss of 3.4 % for decent risk reward of 1.33 for target 1.
The stock price may retest EMA 50 before hitting Target 1. Since the volumes are huge it may not give an opportunity to take a position. Leave the trade if it goes beyond your risk reward we have thousand other stocks to take trades. exit the trade once the trade hits the target or stop loss.
Place stop loss GTT trade while taking the position.
remember to authorize the sell every morning to execute the GTT trades successfully.
Note,:
This is a trade idea upon my personal observation, this is not an recommendation. I request you to do your own research before taking the trade.
Do comment for any doubts or clarification.
the stock has taken multiple rejections from EMA 100 line which also acts as main resistance to the stock price since a long time.
The stock is expected to reach the target price by taking its previous price actions and current closing above EMA 50.
If the stock price reaches target and successfully closes and sustains above EMA 100 then we can look forward to hit target 2.
Place strict stop loss of 3.4 % for decent risk reward of 1.33 for target 1.
The stock price may retest EMA 50 before hitting Target 1. Since the volumes are huge it may not give an opportunity to take a position. Leave the trade if it goes beyond your risk reward we have thousand other stocks to take trades. exit the trade once the trade hits the target or stop loss.
Place stop loss GTT trade while taking the position.
remember to authorize the sell every morning to execute the GTT trades successfully.
Note,:
This is a trade idea upon my personal observation, this is not an recommendation. I request you to do your own research before taking the trade.
Do comment for any doubts or clarification.
Trade closed: stop reached
Trade active
Trade closed: target reached
Trade active
Trade closed: target reached
Target T4 reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.