Grindwell Bullish reversalGrindwell norton making Cup & Handle pattern. Look at the false breakout. Long upper shadow signifies selling pressure. It's either good to wait for weekly close or have SL at breakout level. False breakout then retraced to 61.8 fib retracement and took support. Also, it was long term trendline support. Plus look at the long lower shadow which signifies strong bullish reversal. I had alert below 2K as I was expecting it to take fib & trendline support and got triggered.
GRINDWELL
GRINDWELL go longIf it crosses 2214
Entry price: 2214.10
Stop loss: 1949.95 (11.94% risk involved)
Target: 2745.40 ( reward of 24% with 11.94% risk)
Enter into the stock if one is able to take risk of 11.94%
I am entering this stock with 11.94% risk
I am not SEBI registered individual, please do your own analysis before taking a trade , this is only a trade idea
GRINDWELLGRINDWELL:- Stock has given breakout, plan something only if it sustains above 2148 level.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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Ajay.
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GRINDWELL - WAIT TILL IT BREAKSA FLAG AND POLE IS IDENTIFIED IN THIS STOCK. SO ITS GOOD TO KEEP IN THE RADAR
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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