FSL Uptrend SupportStock is in an uptrend and has taken support on this trendline many times. Can be bought for a target of 230. CMP-202. SL will be 194 on a closing basis. 4:1 risk-reward ratio. Stock is also fundamentally good.
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FSL trade ideas
Firstsource Solutions Ltd. - Up-Flag on DAILY chartFSL is in an up-trend. The up-rally on this counter went into consolidation. The consolidation got the upward breakout on a daily candle dated 2nd June 2021 and closed at Rs.146.50. This breakout is supported by increased volume. I anticipate the price target of Rs.163 in a time frame of about 5 daily candles. I suggest the stop loss at Rs.142. The risk-reward ratio is 1:3. The stop loss should be followed for first four daily candles and thereafter the profit booking/ exit decision should be based on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier.
NOTE: This idea is an attempt to predict the future price. Investment decision based on this idea, if any, shall be solely at the risk of the investor.
FSL - Potential Swing trading Setup 🔰 MY thought process :
⭐Everything explained in charts itself for this one :) with logic
🔰Am I taking this trade now: No---Reason: Already in the trades of Naukri and PPL as posted last time :) also took a small position in Coal India today as posted guys :)
Also keeping an eye on JSW steel too seems bullish to me :), All the analysis already posted on my page :)
🔰 {Some info}
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
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