Bhansali Engineering Polymers (#BEPL): A year & 4 mnth long cup

Oct 1, 2020

Bhansali Engineering Polymers Ltd: A year and 4-month long cup formed and now trying to break out the pattern with a spike in the volumes. Increased buyer participation. If there is pullback at this point wait for it to come back and break the neck for a break out from that level. Entry INR 81 (Closing basis). Stop Loss INR 76.95 Target INR 96 to 115

“Short-term volatility is greatest at turning points and diminishes as a trend becomes established.” - George Soros

Disclaimer: This idea has been posted strictly for educational purposes only and any investment shall be taken post proper due diligence and consultation of a certified Financial Advisor

Oct 6, 2020

Trade active

Late update: Trade was active (as marked on the chart - 81 (closing basis)) and made a high of 89 (6th Oct).

Oct 6, 2020

Note

Nearing the Target (T1) INR 96. Please mind as per the initial suggestion there is a chance of retracement from any price zone, pls do your due diligence and have a Trailing SL in place. Thank you

Oct 9, 2020

Trade closed: target reached

Target Achieved : Reached the initial target range of INR 96 to 115. Made a intraday high of INR 99.70. Can book profits here are Trail the SL. I have booked 50%.

Nov 29, 2020

Note

BEPL touched an intraday high of INR 128. Disclosure: Still holding 50% of my remaining position

Feb 12, 2021

Note

Update: After taking decent profits added more units on the way up as there was still momentum (till 15th Jan 2021) this is called as 'pyramiding' in Trading terminology. This is how we need to run your winners for the long term which is as important as cutting your losses quickly for losing trades. DISCLAIMER I still holding a percentage of my original position + the added units along the way up.

Feb 18, 2021

Note

Update: Liquidated the remaining portion of my position. Closed my medium-term position which I have accumulated and pyramided for max gains/ profits while carefully managing my risk. Cheers