JAMNAAUTO is consolidating in a rising channel pattern. I had posted about this scrip before a potential breakout, but it took one more rejection at the top and now price made a green candle at the channel support.Entry at this price could be a golden opportunity to go long and aim for 1:2 and if price breaks out, a potential 1:10 trade!
Place a tight stop loss of 5% and hold.
Since this a very low risk high reward setup, probability of this playing out is very less. There can be situation where price gives and fake breakdown hitting the sl and then move up, giving a breakout.
Odds are more favorable after breakout at the expense of a lower risk reward.
Position size accordingly. HAPPY TRADING!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.