Anwar_Khan

SUNTECK REALTY Daily chart breakout

Long
NSE:SUNTECK   SUNTECK REALTY LTD
The chart is pretty self-explanatory. A simple breakout with volume and SL if breakout fails based on risk taking ability. MACD is also suggesting a trend reversal but the reversal is on its very early stage. Also stock has crossed 9 MA (9 MA can be very useful for short term) and today the stock has crossed the last lower-high swing.

For a good trade, I keep fundaments in mind because and atleast 3-4 technical reasons to take the trade. For me, this trade fulfils all my tech analysis requirements.
Trade active: Added 30% quantity, waiting for some momentum to add or exit.
Trade active: Added more 50% quantity as it has breached 0.236 Fibo levels on daily chart
Trade active: Added remaining 20% quantity on a dip, Averaged @ 279.9
Trade active: Trailed SL below 296 and at cost.

Comments

timeframe for target 1
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Anwar_Khan RoopaNaveen
@RoopaNaveen, If their is a good momentum then 12-15 trading sessions are enough. Otherwise I will wait for 1.5 months max.
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