Setup: 3 Rising Valleys Pattern, Rising Channel, Chikou Span in open space and PSU bank Index giving breakout above 2 years levels
Target 1 - 55
Risk: Slightly Risky Trade as PSU bank
Stoploss: Please determine, manage and adhere to your stoplosses as per your risk profile and appetite. A close below 35 could be a determined as a Stoploss level.
Also note, I am not a SEBI Registered Analyst or a Financial Advisor. Please initiate trades as per your knowledge and risk profile.
@SK_tron, Still looking good. The Setup is still intact. Market fluctuations and noise will always be there. Downside is limited. The corrective waves might last for few weeks (could be several), but that will be an opportunity to add.
SK_tron
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@BeingNick, alright, by when approximately do you expect the target of 55?
BeingNick
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@SK_tron, A strong weekly closing above 45 should trigger upside momentum. But still 3-4 months looks reasonable time.