Trade setup with risk and reward rate on HUL.
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.
Comment:
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.