-- Buy above=1751 or CMP --Target = 1796 | 1838 --Stop-loss = 1726 --R:R =3.43 -- Lot size = 500 --Expected Profit = 43k ( 5% ) --Expected Holding = 10 days only
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====================================================== â•Technical Reasons to trade or Strategy applied :- â•
1) Stock has formed cup & handle pattern 2) Breakout was strong & retested the trendline again 3) Trendline resistance is already broken 4) Target is based on resistance areas 5) bullish engulfing candle as well
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Need to cross the trendline
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safe can book some as the first TGT is almost achieved
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reduce your SL to cost as stock respected the trendline resistance
Trade closed: target reached
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1st target reached
bought @ 1751 booked @ 1800 pints earned =50 lot size = 500 PROFIT booked per lot = 25000
Safe can book here ...rest modify SL to cost
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Trade closed manually
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full exit Pidilite in NO Profit No loss safe traders might have booked 25,000 PER LOT
@TradeTheTip Good Day. This touched the 1st target today of 1795 resistance level. It reversed from this level. Do you think it is the right time now to enter for a breakout and reach the second target too?
ReviveTraders
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@Shrish_Nayak, well ...stock is in range now .....I suggest safe traders to book full at the first target
srikarthicvs
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Sir, is it safe to enter this trade now for second target?
ReviveTraders
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@srikarthicvs, you can re-enter after the trend line break as shown in the description box
BULLISHTRADER06
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There’s a positive diversion when i look at rsi and chart, once again great analysis 👍🏻🥂
ReviveTraders
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@BULLISHTRADER06, thanks ...you are doing gr8 as you also do your own study .....& I post the RSI here
sankhyainvestments
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cup & handle in downtrend works ?
ReviveTraders
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@rachanak, basically the trade is based on trendline break
sankhyainvestments
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@tradethetip, yeah that makes sense , retest entry at trendline touch