LUPIN - Consolidation and Breakout, High RR swing trade
Hi traders,
Lupin has given a good opportunity after staying in a tight range for good amount of time. Now, as we can see that Lupin has given a re-test and the previous resistance has become a support.
I have already initiated the position at 1175 with a stop loss below the support i.e 1167.
1st target: 1205
2nd target: 1220
The Reward-Risk is 5:1 (Considering the first target)
This seems to be a high probable trade because there is a gap which is supposed to be filled. Also, the pharma sector is strong.
Feel free to comment your queries. I would love to respond to them.
Thank you,
Keshaw H. Agarwalla
Happy trading :)
Lupin has given a good opportunity after staying in a tight range for good amount of time. Now, as we can see that Lupin has given a re-test and the previous resistance has become a support.
I have already initiated the position at 1175 with a stop loss below the support i.e 1167.
1st target: 1205
2nd target: 1220
The Reward-Risk is 5:1 (Considering the first target)
This seems to be a high probable trade because there is a gap which is supposed to be filled. Also, the pharma sector is strong.
Feel free to comment your queries. I would love to respond to them.
Thank you,
Keshaw H. Agarwalla
Happy trading :)
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