OTSU LONG TRADE (SECOND STRIKE) FOR ADVANCED TRADERSOTSU LONG TRADE (SECOND STRIKE) FOR ADVANCED TRADERS
OTSU is still in uptrend as it has created an IDP at LTF. Its third stride upside is still pending, indicating price moving further upside. The Volume Gradient narrates the same story.
๐จ TECHNICAL BUY CALL โ OTSU๐จ
BUY1: 372
BUY2: 345-355
BUY3: 330-340
๐ TP1 : Rs. 400
๐ TP2 : Rs. 438
๐ STOP LOSS: BELOW Rs. 325 (Daily Close)
๐ RISK-REWARD: 1:7
Caution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
OTSU trade ideas
OTSU UNORTHODOX LONG TRADEOTSU was previously in downtrend till November 2022. Later on it switched to upward slanting consolidation for 2.5 years. It has recently broken out of this Accumulation Phase powerfully. It is currently in a pullback in spike phase of uptrend. Pull backs in this kind of spike phases are usually shallow and brief. Therefore, it is wise/profitable to accumulate OTSU at Current Price (CP) and close of each 1D candle โ till it crosses 340 again. Profit Taking should be at the culmination of next up-leg.
๐จ TECHNICAL BUY CALL โ OTSU ๐จ
๐ฏ BUY STRATEGY: Buy @ CP (275) and close of every 1D candle till it reaches 340.
๐ TP1 : Rs. 340
๐ TP2 : Rs. 370
๐ STOP LOSS: BELOW Rs. 210 (Daily Close)
๐ RISK-REWARD: High Conviction | 1:3 (tentatively)
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST THE IDEA IF YOU FIND IT HELPFUL.