Target 7.8% returns in SRF - Swing Idea post Trendline breakout
Hey folks!
Let me bring your attention to SRF as it has recently shown signs of Trendline breakout post accumulation and is giving a good risk-to-reward setup.
Given the stock is bouncing back from the accumulation zone, the probability of the setup being correct is very high.
Stop loss @ 2170 .i.e. 3.7% below the current price
Targets:
First Target - 2410
Second Target - 2500
Third Target - 2600
You can keep booking partial profits at each of the targets and move your stop loss accordingly below the nearest support level to save the profits you have gained.
Downside/ Possible risks for this setup -
Since the volume of the candle with which the Trendline breakout happened is not strong enough, It may happen that the stock will move sideways or again come back to the accumulation zone of 2100.
Anyways in the case, the prices reverse we will be stopped out at - 2170
Overall my personal star rating of this swing setup is 3.5/5 stars.
Thanks a lot for reading the idea.
Do let me know what is your rating for this setup? And what do you think about SRF and this idea!
Ping in case you have this stock in your portfolio and you know this stock's behavior well!
###########################################################################
############################ Disclaimer #####################################
Please Trade at your own risk as I won't be sharing your profits!
Learn Trading from my rich @11 years of Trading by reaching out to me - 7903305762
Do Follow | Like | Support for more such ideas and learnings
##########################################################################
Let me bring your attention to SRF as it has recently shown signs of Trendline breakout post accumulation and is giving a good risk-to-reward setup.
Given the stock is bouncing back from the accumulation zone, the probability of the setup being correct is very high.
Stop loss @ 2170 .i.e. 3.7% below the current price
Targets:
First Target - 2410
Second Target - 2500
Third Target - 2600
You can keep booking partial profits at each of the targets and move your stop loss accordingly below the nearest support level to save the profits you have gained.
Downside/ Possible risks for this setup -
Since the volume of the candle with which the Trendline breakout happened is not strong enough, It may happen that the stock will move sideways or again come back to the accumulation zone of 2100.
Anyways in the case, the prices reverse we will be stopped out at - 2170
Overall my personal star rating of this swing setup is 3.5/5 stars.
Thanks a lot for reading the idea.
Do let me know what is your rating for this setup? And what do you think about SRF and this idea!
Ping in case you have this stock in your portfolio and you know this stock's behavior well!
###########################################################################
############################ Disclaimer #####################################
Please Trade at your own risk as I won't be sharing your profits!
Learn Trading from my rich @11 years of Trading by reaching out to me - 7903305762
Do Follow | Like | Support for more such ideas and learnings
##########################################################################