praveen.bhatiya
Long

Buy Flag with good Risk to Reward Trade

NSE:ICICIPRULI   ICICI PRUDENTIAL L
136 views
3
136 3
Classical Flag pattern gave breakout on 15.01.18 so the pull back could be used to enter the trade. Action/Reaction set is also pointing the same target as Flag.

Entry 410 - 411, Stop Loss 404 Target 432.50. Risk to reward ratio 3.14. FO market lot 1300
Trade closed: target reached: This is my reason to like small Flag pattern which rewards very fast.
Actually i entered @436 can you suggest short term(1-2 Months) targets and SL, Please.
Reply
@nakkerthi, Your entry is good. Currently the stock is trading around its Resistance level. It seems it is trying to break and sustain above it. In that case it can move up to 480. Next Resistance is around 500. Ideally SL should be 423 but if you prefer you can make it to 436 level that is a breakeven point for your trade. Hope it helps.
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