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Yes2Profits
Oct 13, 2021 5:23 PM

RECLTD - Ascending Triangle Pattern Long

REC LTDNSE

Description

The stock has been ascending for the past few days, and has been close to resistance quite a few times.
Considering the setup, it is a likely candidate for Breakout of resistance, for a likely target of 180.

I recommend a stop loss of 155, but you can take a call basis your risk profile.

The trade offers a risk reward ratio of >1:4.

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Trade closed: stop reached

Stop reached on Oct 21
Comments
jass3639
Hi Sir, Can I buy 170 call
Yes2Profits
@jass3639, Difficult to say buddy. 180 is the target likely to be achieved, but the timeline can play a spoil sport in case of options. If you want to use leverage, better to buy futures. But its entirely your call as you would know your risk profile, I don't.
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