balkrishna ind looks bullish in short to medium term

in weekly it is in strong uptrend,

in daily, hammer formed at uptrend channel support + horizontal support, price should reverse and go up from here.

sl - 1573, 1st tgt - 1732, tgt2 - 1800
Trade active: reversed and closed at 1659.25
Trade closed: stop reached: channel support broken.
Why the stop is far away? can't it be a close just below the channel? and wont the bullishness confirm after a firm close above the hammer?
@Parasuram, i think a stop at 50ema 1605 should work
ParamjitMahapatro AbhishekHiremath
@AbhishekHiremath, @Parasuram , yes a sl just below the horizontal/channel support would work, I put sl around the second support level, because, its result is yet to come, and volatility may rise, and some times a predefined sl may get triggered due to intraday swing.
bearishbull1968 ParamjitMahapatro
@ParamjitMah apatro in sync. with u r view. nice trade set up :)
+1 Reply
ParamjitMahapatro bearishbull1968
@bearishbull1968, Thanks :)
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out