It's a risky bet with markets at ATH, but very much undervalued company with a good RR.
Posted very good results. Trading at a PE <3, with a book value of 629 INR.
Personally, i will wait for a dip and accumulate (when nifty falls to 15500-600 region).
Trade setup:
Monthly: Crossed multi-year trendline with volumes and a strong bullish candle (string conviction).
Weekly & Daily: rising EMA (sloping upward), making Higher High and Higher Low
SL = depending on risk appetite (eg; below 200 EMA on daily chart). Personally, I would take 104 INR (last swing low).
Target = fib levels ie; 2.618 levels & 3.618 levels.
Posted very good results. Trading at a PE <3, with a book value of 629 INR.
Personally, i will wait for a dip and accumulate (when nifty falls to 15500-600 region).
Trade setup:
Monthly: Crossed multi-year trendline with volumes and a strong bullish candle (string conviction).
Weekly & Daily: rising EMA (sloping upward), making Higher High and Higher Low
SL = depending on risk appetite (eg; below 200 EMA on daily chart). Personally, I would take 104 INR (last swing low).
Target = fib levels ie; 2.618 levels & 3.618 levels.
Trade active:
12July21: Today, locked in 10% UC. Target 1 achieved ie; 235 INR.
Hold patiently for target2. If not, close the trade depending on your risk apetite.
Hold patiently for target2. If not, close the trade depending on your risk apetite.
Trade closed: target reached:
personally, trade closed after reaching target 1. Booking profits is also a key skill. With nifty crossing 16K, i could see a correction coming soon. Better be safe than sorry!