yossarian121
Long

Strides (STAR:IN) - Gann bounce possible (trading long)

NSE:STAR   STRIDES PHARMA SCI
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STAR is at gann support. Very oversold, some bounce is possible. Exercise SL as per your risk appetite
whats your target for a bounce, upper level around 600-625 ?
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yossarian121 ShanTrader
@ShanTrader, First let us see whether we get the bounce or not. Unlikely we will get a V shaped recovery or get to 600 or so in a hurry. High risk trade so exercise risk management
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ShanTrader yossarian121
@yossarian121, thanks. I had picked up some y'day itself :-)
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yossarian121 ShanTrader
@ShanTrader, Great. Sometimes they work really well. Good for you. Stay in touch
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sahilmathur yossarian121
@yossarian121, Excellent chart and detailing brother. Keep up the good work. It indeed bounced back. Though I do not want to mix technical with fundamentals but it seems this is a loss making company and this bounce back was because of being oversold? I would like to try some positional trade. Can you speculate a reasonable target for this if still there's more bull run to have? HDFC gave a call of 980 yesterday. Thanks in advance :)
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ShanTrader sahilmathur
@sahilmathur, Dear Sir, this company is fundamentally very strong and has a great future. If you are an investor it is a buy and hold for two years min. From trading point of view yes, it could be a short covering as well but the company has a long way to go up and can give you good returns long run.
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yossarian121 ShanTrader
@ShanTrader, Retesting previous lows - hit 352 today. Can do a retest of previous low or in a worse off scenario Gann support lower at around 310 levels and declining with time
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yossarian121 sahilmathur
@sahilmathur, It's a decent company I would say. Charting is all about price and time. Saw a great entry point that is why I posted. It's a question of risk reward. I won't get into long term price objectives but that 350 or so level if retested would be a great entry point. Whether it goes down after that I won't worry about that
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