aks85

JK Paper- Flag and Rounding Bottom Breakout- Buy Setup

Long
NSE:JKPAPER   JK PAPER LTD
112 views
3
Why am I bullish about the stock?
JK Paper has formed Flag Pattern breakout in the Daily charts with nice volumes, indicating a continuation of the upward trend.
Also, it has given a breakout of the rounding bottom pattern in the daily charts .
It is bullish in larger time frames as well.
Aggressive traders can enter the trade at cmp , whereas more conservative traders can wait for a small pullback.
Expected Levels 100-105, Exit Levels- 77

PS for beginners:
I always take a risk of 1-2% of my capital on a trade i.e in case my stop loss hits I would lose only 1-2 % of my capital. This way I am able to protect my capital even if a few trades goes against my direction. This is one rule that I follow for all my positional trades irrespective of how confident I am about the trade.
Trade closed: target reached: One can book profits at cmp 99.2. 20% profits.
Comment: Traders who trail can keep todays low as sl- 90.50.

Comments

Perfect Flag pattern, CONGRATULATIONS! Thanks for analysis and sharing.
Reply
aks85 praveen.bhatiya
Thanks, Praveenji. Actually, I myself had been waiting for such a setup where I would get multiple confirmations to enter a trade. I am quite bullish on this stock.
Reply
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