SunPharma has given a strong breakout from pole and flag pattern. Breakout is very strong. Crossed 200 DEMA yesterday.
Wait for retracement to 505-510 levels and enter between 505-510 levels. Targets will be around 560/590 and SL will be 498.
I know that SL is very tight. For trading breakouts, the next daily candle after our entry shall be green candle. In case it is false breakout we will exit with minimal loss.
Quantity based on risk management. In my case my virtual capital is 500000 and 3% is max risk for trade. if i enter around 510 levels i vl buy 1 lot i.e 1400 shares so that the max loss will be 510-198=16500/-.
Risk/Reward is pretty good around 3.8
Hope to see sunpharma @600 soon.
Trade is active only if the entry level is reached.
Wait for retracement to 505-510 levels and enter between 505-510 levels. Targets will be around 560/590 and SL will be 498.
I know that SL is very tight. For trading breakouts, the next daily candle after our entry shall be green candle. In case it is false breakout we will exit with minimal loss.
Quantity based on risk management. In my case my virtual capital is 500000 and 3% is max risk for trade. if i enter around 510 levels i vl buy 1 lot i.e 1400 shares so that the max loss will be 510-198=16500/-.
Risk/Reward is pretty good around 3.8
Hope to see sunpharma @600 soon.
Trade is active only if the entry level is reached.
Giao dịch đang hoạt động:
Entered at 507. Sl will be 498 on closing basis. Ultimate SL will be 493.5. targets 560/590
Giao dịch đang hoạt động:
Boring day in sun pharma today but still up by 1.5% at present.
It may face resistance at 520-525 level. Once the price crosses the 520 level i will trail my SL to cost and wait for the target.
Please do remember that once you get 1-2% profit after the entry, trail SL to cost to protect the capital. Watching a green trade to turn red is the most painful aspect of trading.
It may face resistance at 520-525 level. Once the price crosses the 520 level i will trail my SL to cost and wait for the target.
Please do remember that once you get 1-2% profit after the entry, trail SL to cost to protect the capital. Watching a green trade to turn red is the most painful aspect of trading.
Giao dịch được đóng thủ công:
Trailing SL Hit at 512. Booked 1% profit.