A stock which could be looking at some secular trend changes where OIl marketing companies could use its product along with metal gas cylinders..Esp with the escalated prices of metals.
The stock had broken out and now has completed its retest..look for a rebound on Monday to take a long position in the same.
Long above 99 with a SL below 94.50.
Plan B could be going long at current market price with 50% allocation with 88.50 as a stoploss and adding a further 50% above 99 while shifting the stoploss then to below 94.50. Reduces the risk further.
There could be a bit of a struggle till it crosses 110 but above that expect some sharp momentum.
The stock had broken out and now has completed its retest..look for a rebound on Monday to take a long position in the same.
Long above 99 with a SL below 94.50.
Plan B could be going long at current market price with 50% allocation with 88.50 as a stoploss and adding a further 50% above 99 while shifting the stoploss then to below 94.50. Reduces the risk further.
There could be a bit of a struggle till it crosses 110 but above that expect some sharp momentum.