Equity-Earningz

Buying Pennant Breakout - Riks/Reward 1:4+

Long
NSE:VOLTAS   VOLTAS LTD
Entry at 662
Stop-loss 632
Target 788 ( Set as 161.8% of Wave1 )

Risk/Reward 1:4+

Voltas is in a strong uptrend. Price is trading inside an upward channel and formed a bullish pennant . Pennants look very much like a symmetrical triangle but are typically smaller in size, ( volatility ), and duration.

Voltas is in a 3rd Wave and Impulse wave 3 often is the wave with the biggest move. So, usually, wave 3 will move up above or at the upper line of a trend channel. In a rising impulse wave, it is common for the price to reach 161.8% of wave 1.
Trade active
Comment: Trailing stop-loss form 632 to 662 at entry price.

The price made a swing high of 713.50 on 18th.
Trade closed manually: The price made a low of 661 and closed at 670.

Stop-loss are realtime basis not on closing basis.

So any single tick below 662 is a SL hit.

Trade closed at breakeven.