Shipping Corporation of India has broken-out from trend-line and facing some resistance around 118.
A daily close above 118 or crossing 119 would trigger the buying to make this stock touch its recent high zone.
Therefore, buy when the above condition is fulfilled for the target of 132 - 134
Stoploss after taking the trade would be below the recent low which is...
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This is follow-up on Shipping Corporation of India. Can check link to related ideas.
Target 1 achieved. More than 40%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
The stock has been in an uptrend for a while now. The red lines in the chart are Action-Reaction Lines. Notice how these lines have acted as support / resistance. Next destination could be the top red line at 87.50-ish.
But, for patient investors, this stock could deliver more is my guess.