Garden Reach Shipbuilders & Engineers LtdBased on the chart, here's a detailed description for the trade setup:
### **Trade Setup for GRSE:**
- **Entry (Buy):** The entry point for this trade is based on the breakout confirmation or continuation of an upward momentum. The buy price appears to be **above ₹1,720.30**.
- **Stop-Loss:** The stop-loss is set at **₹1,529.60**. This provides a buffer for potential volatility and ensures limited risk if the trade goes against you.
- **Trailing Target:** To maximize potential profits, consider a trailing stop mechanism. Start trailing from **₹1,993.75** (initial target). If the price surpasses this level, adjust the stop-loss incrementally to lock in profits as the price rises.
- **Risk-Reward Ratio:** The trade has a structured risk-reward ratio, aiming to achieve a higher reward for the calculated risk.
### Indicators Observed:
1. **Double EMA & Chandelier Exit:** These tools confirm trend direction and potential reversal points.
2. **RSI:** Current levels suggest strength in the momentum. Ensure it stays above key midlines during the uptrend.
Reassess the trade if the price fails to hold above the buy level or if there are bearish signals
Disclaimer
The information provided here is for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves significant risk and may not be suitable for all investors. Please perform your own research, consult a certified financial advisor, and carefully assess your risk tolerance before making any trading decisions. Past performance is not indicative of future results. The author is not liable for any losses incurred from the use of this information.
