We can initiate buy at 460 for an immediate target of 530 i.e. around 15%.
Stop loss can be put at 437 below the support area(5%).
Idea behind the trade: Stock is moving in a channel and currently the price is at lower range of the channel which is providing us a very good risk reward ratio.
Instead of booking profits at 530, we can also trail our stop loss and wait for the breakout of the trendline forming since 2018 for minimum targets of 800.
Supporting points - FIIs are increasing their stake from last 4 quarters which is a good point. Also the price is consolidating very nicely above the super trend on weekly chart.
SIS
Stop loss can be put at 437 below the support area(5%).
Idea behind the trade: Stock is moving in a channel and currently the price is at lower range of the channel which is providing us a very good risk reward ratio.
Instead of booking profits at 530, we can also trail our stop loss and wait for the breakout of the trendline forming since 2018 for minimum targets of 800.
Supporting points - FIIs are increasing their stake from last 4 quarters which is a good point. Also the price is consolidating very nicely above the super trend on weekly chart.
SIS
Operación activa:
Entry initiated today.