Bhansali Engineering Polymers Ltd multiyear breackout 2017
Objective:
To capitalize on the anticipated multi-year breakout of BEPL as it approaches its 2017 high.
Entry Strategy:
Enter the trade upon confirmation of a weekly candle crossing 3% above the 2017 high of 148. This confirms the breakout level at approximately 153.
Initial Stop-Loss:
Set an initial stop-loss at 137, which is 10% below the breakout level to manage downside risk.
Target:
Aim for the pattern cup n handel target as indicated on the chart, which is 279.55. This represents the potential upside if the breakout is successful.
Trailing Stop-Loss Strategy:
Once the stock moves past the breakout level, implement a trailing stop-loss using the Supertrend indicator. Adjust the stop-loss level according to the Supertrend signals to lock in profits while allowing the trade to continue in a favourable direction.
Monitoring and Adjustments:
Regularly monitor the weekly and monthly charts for any changes in price action and volume.
Be prepared to adjust the stop-loss levels and targets based on market conditions and Supertrend signals.
Risk Management:
Ensure the stop-loss and trailing stop-loss strategies are strictly followed to protect against potential losses.
Review the trade periodically and make necessary adjustments in response to significant market movements or changes in the technical setup.
By adhering to this structured strategy, we aim to maximize potential gains from the anticipated breakout while managing risks effectively.
Disclaimer:
This strategy is based on a technical analysis of Bhansali Engineering Polymers Ltd. (BEPL). The execution of this strategy involves inherent risks, including the potential for financial loss. This is not a recommendation to buy or sell BEPL or any other financial instrument. Individuals should conduct their own thorough research and consider their own risk tolerance before making any investment decisions. The responsibility for any trade entered into based on this strategy rests solely with the individual making the trade.
To capitalize on the anticipated multi-year breakout of BEPL as it approaches its 2017 high.
Entry Strategy:
Enter the trade upon confirmation of a weekly candle crossing 3% above the 2017 high of 148. This confirms the breakout level at approximately 153.
Initial Stop-Loss:
Set an initial stop-loss at 137, which is 10% below the breakout level to manage downside risk.
Target:
Aim for the pattern cup n handel target as indicated on the chart, which is 279.55. This represents the potential upside if the breakout is successful.
Trailing Stop-Loss Strategy:
Once the stock moves past the breakout level, implement a trailing stop-loss using the Supertrend indicator. Adjust the stop-loss level according to the Supertrend signals to lock in profits while allowing the trade to continue in a favourable direction.
Monitoring and Adjustments:
Regularly monitor the weekly and monthly charts for any changes in price action and volume.
Be prepared to adjust the stop-loss levels and targets based on market conditions and Supertrend signals.
Risk Management:
Ensure the stop-loss and trailing stop-loss strategies are strictly followed to protect against potential losses.
Review the trade periodically and make necessary adjustments in response to significant market movements or changes in the technical setup.
By adhering to this structured strategy, we aim to maximize potential gains from the anticipated breakout while managing risks effectively.
Disclaimer:
This strategy is based on a technical analysis of Bhansali Engineering Polymers Ltd. (BEPL). The execution of this strategy involves inherent risks, including the potential for financial loss. This is not a recommendation to buy or sell BEPL or any other financial instrument. Individuals should conduct their own thorough research and consider their own risk tolerance before making any investment decisions. The responsibility for any trade entered into based on this strategy rests solely with the individual making the trade.
Disclaimer
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