VODAFONE IDEA (Cup formation)

CMP = 10.4

Upside Target = 12.7 (22%)

SL = 9.4 (9%)

Look to accumulate on dips within the current channel so that your buy price is as close to the stoploss.
If it breaks out of the channel in the next trading session, buy with a STOPLOSS of 10.7 - 10.4 based on your risk appetite.

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*DISCLAIMER*
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.

Comment:

Today the markets amid global cues traded weak. However Idea continued strong to break the current channel.

I expect a small profit booking consolidation at 12 . For volatility safety if one has bought today shift the SL to 10.7.

Comment:

SL is only to protect your loss and secure your profits.
It doesn't mean one cannot enter again.
The chart is still string for the targets mentioned.
Accumulate on dips in a staggered manner.

Comment:

Volume is drying. Good sign

Comment:

Trade with a strict stop loss of 9.4

Trade closed manually:

To be honest can't really judge how this stock is going to move. On one side it looks healthy by respecting the support and forming a good base. On the other side since Nifty is correcting it could affect this stock as well coupled with the court order soon. Stay cautious here. I suggest an Exit.