H.P COTTON MILLS BREAKOUT
Updated
HPCOTTON Looks bullish on charts after breaking a channel pattern.Buying at CMP looks risky but the momentum is very high.
Wait for tomorrow's close and enter 30% of position if the momentum sustains.
Enter with rest of the position after retrace. Targets of 180-200 can be looked at given the momentum.
*SMALL CAP STOCK. RISK OF FAKEOUT IS HIGHER.
Note
UPDATE: Momentum is very bullish. Update targets to 220-240 and place trailing stoploss below 2 bar low on daily time frame.
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