Stock is at an important resistance level.
We will only trade on a breakout on the upside.
There is no point in shorting the stock if there's a breakdown because the stock is in a clear uptrend.
Even if there is a breakdown, the best is to ignore the scrip.
Buy zone is slightly above the breakout zone to avoid falling for any falls breakout
If we are buying at 660 levels Stop loss will of 50-60 points at 600-610 on a closing basis & our target will be of 100-120 points - 760-780!
RR- 1:2
We will only trade on a breakout on the upside.
There is no point in shorting the stock if there's a breakdown because the stock is in a clear uptrend.
Even if there is a breakdown, the best is to ignore the scrip.
Buy zone is slightly above the breakout zone to avoid falling for any falls breakout
If we are buying at 660 levels Stop loss will of 50-60 points at 600-610 on a closing basis & our target will be of 100-120 points - 760-780!
RR- 1:2