In this approach, Once Breakout or Breakdown levels are breached, we initiate Long or Short positions accordingly with Proper stop loss as mentioned in the chart. Since the Risk Reward is 1:3, we can take a maximum of 3 trades.
If we follow this approach, over the long run, money is gained.
A trader is advised not to treat these setups as lottery tickets....
POWERGRID given breakout on daily time frame, now wait for retest and let resistance become support. its always good to wait for correct time
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
I may be 100% wrong as...
Stock has recently taken support from the levels of 204.05 and has shown signs that an upward movement is possible in the mid term horizon.
So if you are considering this stock in your portfolio then you could get into this counter as the risk would be at minimal cost.
Time duration 2-3 months
Buy @ CMP or above 212 for a Target of 240 with a stop of 204 or below.
