Possible buy opportunity coming up in Lauruslabs counter (Breakout not yet confirmed, but looks promising)
Cup & Handle pattern formed.
Reversal confirmed from long term down trend from a base of 290.
I also think that the consolidation flag at the resistance line of C&H pattern, today' volume increased the conviction in the idea.
Buy above - 340.25
Stoploss on daily closing basis - 309.50
Target 1- 380 <note that Risk Reward at T1 is not attractive, but likelihood of T2 and T3 is high and T1 to be used a trailing stop loss
Target 2: 425
Target 3: 450
Note: I am not a professional Trader / Investment expert or Advisor. Treat this as an idea for your independent analysis & judgement before any actions.
Cup & Handle pattern formed.
Reversal confirmed from long term down trend from a base of 290.
I also think that the consolidation flag at the resistance line of C&H pattern, today' volume increased the conviction in the idea.
Buy above - 340.25
Stoploss on daily closing basis - 309.50
Target 1- 380 <note that Risk Reward at T1 is not attractive, but likelihood of T2 and T3 is high and T1 to be used a trailing stop loss
Target 2: 425
Target 3: 450
Note: I am not a professional Trader / Investment expert or Advisor. Treat this as an idea for your independent analysis & judgement before any actions.
Trade active:
Picking up after testing the resistance Level. Hold
Trade active:
Counter continuing momentum as expected and close to Target 1.
Possible consolidation/ retracing around Target 1, partial profit booking can be done at target 1.
Possible consolidation/ retracing around Target 1, partial profit booking can be done at target 1.
Trade closed manually:
Breached trailing stop loss after reaching close to Target 1.
Book profit and close
Book profit and close