Buy Heromotocorp Feb fut at 2600 with SL 2568 and Target 2690
Reasons for Buy
1. formed bullish harami/dozi Pattern today on daily charts
2. Good volumes
3. Nifty made hammer pattern on daily patterns and is trading near resistance levels.
4. RRR is above 1.5
5. Volumes are strong.
6. RSI at 22 indicating oversold and chances of reversal.
Risks:
1. Stock is in down trend and may continue the trend if market not supports.
Trade is at Confidence level of 60%
Hedge the position by buying 2500 PE at 51. The hedge will be used to cover gap down openings due to overnight news if any.
1. formed bullish harami/dozi Pattern today on daily charts
2. Good volumes
3. Nifty made hammer pattern on daily patterns and is trading near resistance levels.
4. RRR is above 1.5
5. Volumes are strong.
6. RSI at 22 indicating oversold and chances of reversal.
Risks:
1. Stock is in down trend and may continue the trend if market not supports.
Trade is at Confidence level of 60%
Hedge the position by buying 2500 PE at 51. The hedge will be used to cover gap down openings due to overnight news if any.
Note
Exit 2500PE at 65 with profit of 2800 /-Continue holding Futures.
Note
Revise the Stop loss 2584 to protect the profit earned in 2500 PE and continue holding futures lot.Trade closed manually
Revised SL Hit at 2584. Exit with with no profit/no loss.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.