POINTS TO NOTE BEFORE INITIATING LONG: ------------------------------------------------------------------------------ 1. Star Pharma has been in a continuous downtrend for more than 6 months forming Lower Highs & lows. 2. A breakout of the downward channel occurred on the 24th of June with record volumes seen of the last 6 months. 3. Now a shift to an upward channel is seen with HH, HL, indicating reversal. 4. Trade is based on a minor Trendline breakout in uptrend.
The trade is as follows: - Entry above 357.5 - SL 339.45 - Targets of 383, 402
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Forgot to mention the disclaimer: Always trade based on your own risk appetites. And always enter the Stop-Loss first.