I hope you can now see how Tatapower represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that...
Expecting the stock to move towards its pre-covid highs, but due to uncertainty, the first target can be at 177. SL at 135.5, giving RR of 3:1 at CMP.
The stop loss can be trailing and cut half the position at target, to reduce risk on profit earned.
#RECLTD @ 106.05
- A bullish pattern
- A big green candle made on 13-Mar and since then the closings were moving around within this range
- Breakout attempts were made on 14-May & 08th-Jun (Red arrows).. but on 12-Jun saw the actual breakout
- Next: On watchlist for this week closing, if it is above 106 then LONG