anandlive

NIACL - Long Opportunity

Long
anandlive Updated   
NSE:NIACL   THE NEW INDIA ASSU
CMP 238.30 on 04.06.24
A long setup is spotted on the charts. If crosses and sustains above 248, the next target can be 300+.
Skill in position sizing and accumulation is needed in this trade setup. Let this understand -
We have to buy from 238 to as low as 222. We have to buy in a way that at the time when the price drops to 222, our risk-reward ratio should be comfortable according to our risk management. That means our loss should not be more than what we have decided now.
Let's have an example -
Buy 100 at 238
Buy 50 at 232
Buy 50 at 222
-------
Average price is 232.5
Loss at the time of exit - 4500
Profit on the target of 300 - 13500

It comes around 1:3, which seems good.
One can reduce or increase the quantity according to one's risk capacity and management.
The above illustration and examples are only for learning and sharing purposes, not a trading recommendation in any form.
All the best.
Comment:
Gaining strength. Keep tracking.
Comment:
It touched 281 in the last session on 06.07.24.
Comment:
Reached 290 yesterday 08.07.24
Comment:
Reached 292 yesterday.
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