BEL
Long Back I gave long side bullish idea on same stock. fortunately long side target done and now its trading above that target but now long side target is 178-180 as one can see in this chart.
let me clear one thing here that whoever holding this stock for very long term they should trail their Stop loss rather book at this resistance or one can book in part if find reversal and even then also trail Stop loss. Trailing Stop loss for very long Term is 140 closing basis. but I would love to book profit here in part if find reversal and I would follow trailing stop loss as well.
Now let come to the point that what we can do at this stage " simple if anyone want trade for intraday then one can long till PRZ zone as mentioned in chart and if some one want to short the if Bel Activate Harmonic pattern then if you know how to trade on reversal then trade for short as per your trade setup.
as we can see two Harmonic Patterns over thus chart.
First pattern(Orange) PRZ:- 179.10
second pattern ( Blue-Orange) PRZ:- 179.50-180
Stop loss as per this first pattern (orange one) :- 194 closing basis (stop loss is quite big so better to trade if find reversal then only)
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******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.