Trade setup with risk and reward rate on HUL.
Updated
In the last update, I told you to short sell this stock at 2221 and 2245 and the price was fallen up to 2102 (missed target 2083). Again we are seeing a bounce back in price 2270. Let me create a sample of trade setup for you:
Trade-in steps:
Suppose achieve both trades, then stop-loss should be above 2340 above (which is so far). the first target is easy at 2195 nearby.
Another scenario: price fall below 2200 and closed below it with the heavy volume, then target 2143 and 2083 again
Risk and Reward rate is very high in this setup.
Trade-in steps:
- 1st step to trade short side 2290 nearby
- 2nd short sell will be at 2315 nearby
Suppose achieve both trades, then stop-loss should be above 2340 above (which is so far). the first target is easy at 2195 nearby.
Another scenario: price fall below 2200 and closed below it with the heavy volume, then target 2143 and 2083 again
Risk and Reward rate is very high in this setup.
Note
As per calculation: Yesterday closed rate at 2190 + 123( daily ATR) = 2313 (This is the best level to short)Trade closed: target reached
The first target has been achieved.
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