Trading_hawk

Simple Positional Buy Trade Setup | General Insurance [mid term]

NSE:GICRE   GENERAL INSURANCE
NSE:GICRE

I am posting this on request from one of the follower from Twitter .

It gave breakout of 140 level with gap up opening on 11-11-2021. And on 12-11-2021 it sustain above it.

Major breakout level is 150 level. Also on Daily time frame we can see rounding bottom pattern with neckline near to 150 level range.

Trade Setup:

There will be two scenario:
1) It will come down again to test 140 for the support and fill the gap. Once it get support then one can enter the positional buy trade.
Keep SL of 135 for this trade with 1st target of 150 and then on breakout of 150 level above targets will be open.

2) It will immediately give breakout of 150 level and if it sustain above 150 level then one can take positional buy trade with SL of 139.50 and all above level as target.
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Now if you are impatient then you can take positional buy trade from CMP with SL of 139.50 with all above target for short-mid term only.

Please note: This is my personal view. Please consult your financial advisor before any type of investment.


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