LUXIND trade ideas
BONUS // DAILY SWING CALL // Wed 10th of February 2021 / LUXINDBONUS // DAILY SWING CALL // Wednesday 10th of February 2021 / NSE:LUXIND
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 1750-65
TARGET: 2012+ (15% Around)
STOP LOSS: 1575 (10% Max)
Standard Notes:
- Please follow the Stop Loss strictly and preferably on a daily closing basis.
- Recommended Profit Booking / Exit is on +12-15% & If you still want to hold the stock, trail the SL once this target is achieved.
- Duration: 15-20 Trading Days is suggested for all my trades and is an indicative period.
- If SL / Target are not triggered and you still wish to hold the trade, this can be done as long as SL is followed or trailed.
Disclosure: I may or may not have a position in this trade.
Disclaimer: All the recommendations are subject to market conditions. Please trade at your own risks.
Lux industries on way to Blue sky zone Lux Industries Ltd weekly chart( CMP Rs 1980) . The stock has been in continuous uptrend right from April 2020 , unlike Nifty which entered into consolidation phase after a big upmove. Whats interesting about this chart is that it gave highest weekly close after April 2018 , which is stock's 2nd highest close. The stock is on verge of BO and a close above Rs 2000 will spin off the stock into uncharted territory , must be under watch , close should be watched.
Lux Industries - CMP: 1890Moving in the channel, the stock price movement making higher high. After giving rounding bottom breakout it has retraced to form CUP-N-Handle. It is taking resistance at the supply zone. closing above 1901 will move the price further ahead. The increased delivery volume also indicates price movement. RSI and MACD also indicate bullish movement expected.
LUX IND - CONVICTION CONTINUATION SETUPNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
