YR 2022 Idea #133: Long on GRPLTD This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. Our objective to help anyone who wants to learn technical analysis using charts by demonstrating my real trade entries. You can post your queries in comment section here and we will try to answer them asap.
GRP
Breakout in GRP...Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
GRP Ltd Weekly Cup and Handle Breakout & all time high breakout?Recently we can see a Cup and candle Formation(5 years), and this week, cup and handle pattern broken with maruboze candle which is supported by good volume.
supporting this pattern , now its all time also broken and formed new high of 1914.70.
For the further upside movement its should break 1915 properly in a weekly chart, then is can go till 2840 range at the same time 1815 must act as Major support if it is a genuine breakout then we can keep SL of 1700.
Technically Stock is having potential to reach 3000 range.
Situation 2:
If it is coming for retest then 1600 should act as major support and good chance to enter by keeping SL below 1430 ( Less Risk Takers) and for risk takers 1195 will the SL.
Share your opinion in the comment section.
This is just a View not recommendation to trade, Do your own analysis before taking any trade.
NSE:GRPLTD