BHAGERIA:301 is showing a break out from an yearlong falling wedge, 175 points at widest end, having a target 475 in an year. The total height of wedge is around 230 points could also be a projection. Resistance will be at 370 & 410' Stop:296
330 and 280 range. and inside a symmetrical triangle. decisive move coming soon..
RazaAlam
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STOP LOSS on closing BASIS?
padiyara
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@RazaAlam, Definitely a Stop loss shall be maintained on closing basis. (Today the price touched 295.55)
Since it was a breakout and retest, the trend line shall be considered as STOP comes around 290 and a safe STOP is the Hammer bottom 282.
It should not go below that price, But here the stop was little Different, that I have taken the previous week bottom, which I think is an appropriate STOP.
There is no any thump rule, once we find that the stock is ready for an up move, one can keep any of these points based on their risk appetite.
Remember we are expecting a 175 points gain in an year.