Bharat Dynamics Limited. Target 1900. Bullish Setup. Long - SL

Jun 26, 2024

Bharat dynamics is in a strong uptrend with momentum.
One can take a long right now, or above 1650.
Stop-Loss will be at 1480.
Targets of 1900 and beyond

Jun 26, 2024

Note

This is purely for Educational Purposes. Head and Shoulder pattern

Jul 3, 2024

Trade active

Update 03/07/2024 2:25 pm. Price needs to hold and close above 1650 on daily time frame for a breakout. Morning move seems to have been rejected by selling/supply at higher levels. Still holding the trade with SL of 1480.

Jul 5, 2024

Note

Update 05/07/2024 10:15 am: Closed yesterday above 1650. And today, moved above yesterdays highs. Trailing Stop loss to 1560 now and holding trade.

Jul 10, 2024

Note

Update 10/07/2024: Price action came very close to the stop loss of 1760 but did not hit it. End of Day close on neckline. Holding the trade, could be a breakout and retest of the neckline. Maintaining stop loss of 1760 and carrying the trade.

Jul 16, 2024

Note

16/07/2024 1:06 pm.

Price action breaking down below neckline of 1635-1650. If price stays below this range upto 2:30 pm, trade will be closed manually, and a small loss will be taken, for possibilities of better employment of the capital. Hard Stop loss remains the same at 1560

Jul 17, 2024

Trade closed manually

Exited Trade on 16/07/2024. Price closed below 20 DMA and below the neckline of 1635. A small loss of Rs 46 per share. The money can now be employed in better opportunities.

Jul 18, 2024

Note

Update 18/07/2024

Exiting the trade seems like a good idea. Now we employ the capital in a better trade, or wait for another pattern formation.