rbasker

Range Breakout in Gujarat Gas

Long
NSE:GUJGASLTD   GUJARAT GAS LTD
Gujarat Gas had posted a fantastic result and had a very good Price / Volume action yesterday. The stock had a follow through with strong Price volume action and the price made a decisive breach of the range that was respected the last several days (~ 3 months)
Comment: The price is moving as expected, above the trendline. If in a trade, trail the stop loss and let the profits run. Please exercise your Risk Management Rules at all times.
Trade closed manually: Profit booked and trade closed manually. RR - 1:3.64

Comments

Yes as have mentioned it's making new high from yesterday, today topped 584....what is your level to exit tomorrow as it's already crossed 580...
+1 Reply
rbasker shraghu2010
@shraghu2010, I have entered the stock at a much lower level of the range and as the stock is breaking above it's 52 WH and in blue sky zone, It's better to let the rally continue and trail the stock with a trailing stop loss.
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