1. Bullish market structure on HTF 2. Broke above the horizontal level 3. Support from 200 MA 4. RSI indicates a possible uptrend 5. Good breakout on the weekly time frame 6. Volume lacking at the moment
Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Rajat Kumar Singh (@johntradingwick) NSE Certified Technical & Fundamental Analyst
@dekanihar2001, The stock may cross 400+ in the next few weeks. I think a risk of 7-8% to gain 20-25% is pretty genuine.
This doesn't mean that you are risking 7% of your capital. You can allocate a certain amount and reduce the position to imply a risk of 1-2% on the portfolio value.