VBL has just given breakout on the upside for an ascending triangle formation successfully giving a daily close above the previous 52week high and all time high. For swing traders, it can be bought on retest of levels around 1005-1020. Ideally the SL should be 990 owing to the psychological figure barrier that it broke. But considering ascending triangle rules, SL can be kept near 965 with a Target which is a confluence of ascending triangle as well as 1.618 ratio i.e 1138. This give a R:R of nearly 2.5. Booking half quantity here and trailing SL to 1000, It can be held for targets of 1195 giving further higher R:R. Intraday traders can buy on 15min candle close above previous day's high with SL 5-10 points below previous days high since it is slightly volatile for targets of 1098. Cheers to Pepsi!
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