praveen.bhatiya
Long

Parallel Channel/Engulfing Low risk trade

NSE:LICHSGFIN   LIC HOUSING FINAN
Prices have nicely formed Up sloping channel and today's Engulfing offers an opportunity to go long at current level. One can risk the amout of one bar only. Prices have bounced at retest of lower trend line . We can initiate the long trade as the details given below
Entry 431
SL 408(closing)
Target 492
Risk/Reward Ratio 2.65
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Dec 11
Trade active
Dec 13
Comment: Trade is going well SL raised to 437 so it is a risk free trade now :)
Dec 19
Trade closed: target reached: Stress Free trade did very well :)
Please confirm can we buy on 490 for target of 520 in current senario cmp 488??
Reply
praveen.bhatiya AayanshMalik
@AayanshMalik, I will not buy it now as it has already done the target and already made 3 Drive on top reversal pattern.
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