Oberoi reality - Long side trade
Updated
Oberoi reality -
CMP - 622
Technical details -
1. Stock gave a breakout above 642/43
and started trading in uncharted territory.
2. Made an inverse head and shoulder
before this breakout.
3. Rounding bottom pattern is visible on
weekly chart.
4. Breakout post this rounding bottom,
stock was trading in uncharted territory, followed by a breakout.
Opinion -
1. Long term - Trade on the long side with a technical
target of 884 and SL below 513.
2. Short term - This stock has capability to deliver 10%
returns in short term.
Short term target is 880.
CMP - 622
Technical details -
1. Stock gave a breakout above 642/43
and started trading in uncharted territory.
2. Made an inverse head and shoulder
before this breakout.
3. Rounding bottom pattern is visible on
weekly chart.
4. Breakout post this rounding bottom,
stock was trading in uncharted territory, followed by a breakout.
Opinion -
1. Long term - Trade on the long side with a technical
target of 884 and SL below 513.
2. Short term - This stock has capability to deliver 10%
returns in short term.
Short term target is 880.
Note
Profit booked in this trade. Stock still has a lot of potential, buy on dips. Trade is closed from my side.
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