Gail: Positional Long Opportunity; 1:3 Risk Reward
Gail tested its daily support today. I am planning to go long "only if it moves above Rs 134.75" tomorrow. The chart is "upward channel pattern".
The risk reward looks attractive (1:3)
Entry: Above Rs 134.75
SL: 130
Target 149.4
Important points:
1. Please note that Rs 150 is very strong "monthly resistance". Therefore, booking profit at Rs 149 level is best for us.
2. Look, whenever the price opens gap up (say 140), the people who bought earlier start booking the profits, Hence, that will not be suitable entry. But, if share open flat, start moving upwards slowly and steady, that's the BEST time to enter at the price I have provide.
Disclaimer: Please do you own research before jumping into the trade. Till that just be a spectator and evaluate how the price moves.
I already have open positions.
The risk reward looks attractive (1:3)
Entry: Above Rs 134.75
SL: 130
Target 149.4
Important points:
1. Please note that Rs 150 is very strong "monthly resistance". Therefore, booking profit at Rs 149 level is best for us.
2. Look, whenever the price opens gap up (say 140), the people who bought earlier start booking the profits, Hence, that will not be suitable entry. But, if share open flat, start moving upwards slowly and steady, that's the BEST time to enter at the price I have provide.
Disclaimer: Please do you own research before jumping into the trade. Till that just be a spectator and evaluate how the price moves.
I already have open positions.
Order cancelled:
Trade cancelled since it did not reached our Entry price
Comment:
I expect anyone who is reading my writings to know that there is nothing "certain" in the markets. Neither the %gain on stock nor "out-performance" or "under-performance". There is a risk and opportunity cost involved in both, buying and selling. Selling at any price can often result in "opportunity loss" when the stock moves higher and higher. Human psychology is a culprit here. For e.g. I post any stock which seems undervalued or overvalued to me on tradingview. When anyone makes money on that, they wont appreciate me "a single word". But when they lose or it results in opportunity loss, they are bound to blame me. I don't criticize any person, because I know their psychology has defeated them. At last, there is nothing like "easy money" in the markets. The survival of the fittest holds absolutely true here.