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aniketkulkarni500

Long Trade in Indian Terrain - Consolidation Breakout

Long
INDIAN TERRAIN FAS (NSE:INDTERRAIN)  
aniketkulkarni500 Updated   
NSE:INDTERRAIN   INDIAN TERRAIN FAS
Trend Analysis Technical Indicators
4
0
trendanalysis indicator
INDTERRAIN

Clear breakout from a consolidation with very heavy volumes. Will be a great trade on any pullback towards 82-83 zone.

Target for the consolidation breakout amounts to 92-93, which incidentally is also it's monthly R3 pivot.

Any entry near 82-83 with a stop loss of 75.4, which is its monthly central pivot, gives a good 1:1.5 RR trade.
Comment:
Gave a dip to 83-82 zone yesterday, was the ideal time to take the trade!
Comment:
Still at these levels, if 75.5 seems a deep SL, can take a trade with a new SL of a close below 79, which means it has closed below R1. Ideally, it should bounce from here or else need to be alert!
Trade closed: stop reached:
Holding the monthly pivot level which was a deep SL, but I would get out here it has broken the breakout candle low. SL hit

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