BBTC - Descending Triangle near RTS ZoneHi Investors,
BBTC is making a nice Descending triangle near Resistance turned support zone. Above 1290 breakout, we can see a nice uptrend.
I hope you will benefit from this knowledge
-MetaVish
BBTC trade ideas
BBTC // Long Call // Channel BOCall for Monday 3rd August 2020 // This is a swing trade call and not an intra-day trade //
NSE: BBTC (Bombay Burmah Trading Corporation)
CMP / LTP: 1259
IDEAL BUYING RANGE*: 1220-1265
TARGET: 1475 (Min 15% & above)
STOP LOSS: 1130 (10 % Max)
DURATION: In 15-20 Trading Sessions Target should be achieved
Notes:
- *IDEAL BUYING RANGE: This is the pricing range if the stock corrects after my buy call. If u don't want an aggressive trade, you can wait for a
"possible" (not guaranteed) correction. One can also do a staggered buying (50% on LTP and balance 50% if the stock goes down further 2-3-5%
range). This way the Risk Reward can be improved and profit can be maximized.
- Please follow the Stop Loss strictly (Tolerance of 1% +/- in SL). If you are manually monitoring SL follow them on daily closing basis.
- Recommended Profit Booking / Exit is on +15% on CMP & 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, but 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.
- All my reco trades are with Minimum Risk to Reward (RR) 1: 1.5 (Can go upto 2-3 range depending on the market conditions)
- This is a swing trade call and not an intra-day trade
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.
SWING TRADE BBTCBUY BBTC IN DIPS NOW 1257 SL 1160 TARGET 1490 1500
Over the last 5 years, revenue has grown at a yearly rate of 7.72%, vs industry avg of 4.88%
Over the last 5 years, market share increased from 37.99% to 43.42%
Over the last 5 years, net income has grown at a yearly rate of 10.89%, vs industry avg of 5.8%
#BBTC looks good for 50-60% medium term returns!NSE:BBTC
Structure looks quite appealing.
- Up move has rising volume with the corrective arm having below average volume per say. It looks more like a Bullish Wedge pattern in making.
- The potential support region is placed around 1160-1171 with multiple confluences converging i.e. 200 EMA along with 38.2% Fibonacci level.
- The recent up move blast has rested enough to continue the next leg it seems. We may target the All time high which is an important supply
area as well for good 50-60% return in the medium term.
** Price action around the support can be watched or wait for the upper trendline to break in order to enter with proper risk management and SL below the swing low.
Disclaimer: This is just for educational purpose. Investment/Trading carries its own risk of permanent capital erosion and mental drawdown as well. Do consult your financial advisor before getting into any positions.
P.S - Likes will be appreciated as well as your insights in the comment section as well. Thank you.
