Trend-line breakout is confirmed. Buy signal is awaited.
Shipping Corporation of India has broken-out from trend-line and facing some resistance around 118.
A daily close above 118 or crossing 119 would trigger the buying to make this stock touch its recent high zone.
Therefore, buy when the above condition is fulfilled for the target of 132 - 134
Stoploss after taking the trade would be below the recent low which is 110
PS: One can exit some position around the given target and carry remaining position if there is not enough selling volume around 133
A daily close above 118 or crossing 119 would trigger the buying to make this stock touch its recent high zone.
Therefore, buy when the above condition is fulfilled for the target of 132 - 134
Stoploss after taking the trade would be below the recent low which is 110
PS: One can exit some position around the given target and carry remaining position if there is not enough selling volume around 133
Trade active:
Target is about to be achieved
Trade closed: target reached