DELTA CORP -- POSITIONAL -- MAY 2022

DELTA CORP -- POSITIONAL -- MAY 2022 -- DAILY CHART

1. stock currently trading at upper channel where strong support seen at 248-250 level consistently, stock close at 250 level at same support , as triple bottom support now

2. Resistance seen around 325-330 level from where correction taken stock to current level as oversold on daily chart

3. WAVE TREND also seen oversold and double bottom formation seen which is trend reversal from current level

4. trend line support seen around 225-230 level so stop loss can place bellow trendline support.


BUY DELTA CORP @ 250

Target 275-300-325 ( Positional 2 month )

Stop loss 215


** THIS IDEA IS FOR EDUCATIONAL PURPOSE ** trade at own risk !!

HAPPY TRADING . !!

Comment:

Educational tip : WHAT IS RISK REWARD RATIO ?
whenever we invest in any stock either short term - long term or even intraday position there is risk involves in every trade that is calculated risk after we enter in trade, and we estimate profit target that is estimated reward of trade .

for e,g DELTA CORP if we enter into positional trade at buy 250 level we keep stop loss 215 and target 275-300-325 IN this case our max estimated loss 35 RS and MAX estimated profit is 75 RS.

RISK REWARD RATIO is apx 1:2
imp : before enter any trade make sure risk reward ratio must be min 1:1

Comment:

DELTA CORP bellow strong support 250 next important support at around 225-230 AT Trendline .! RSI strongly oversold bellow 20 now. that means it will bounce back from trendline support at 225-230 most likely .1 10/05/2022