I'm planning a trade on SAIL for Monday, 4th March 2024 , targeting the 28th March 150 CE option at around Rs.3.3 (8000 Lots). Planning to hold for a week, aiming to exit by Friday, 8th March, regardless of market conditions. My stop loss (SL) is set at a loss of -16,312, while my target profit (TP) is +32,659.
This gives me a risk-to-reward ratio of approximately 1:2, indicating a potentially favorable risk for the expected reward. I'm attracted by SAIL's high volume, which suggests liquidity and potential for movement.
Reason for the trade?
I'm considering the technical indicators which show a bullish trend: the lowest 20 EMA is above the 50 EMA, which is above the 100 EMA, and finally, the 200 EMA. This alignment suggests strong upward momentum. Moreover, the daily candle has broken above the 23.6% Fibonacci retracement level and sustained it, further reinforcing the bullish outlook. These technical factors, combined with SAIL's high volume, make this trade particularly appealing.
What are your thoughts on this strategy?
Disclosure: I am not SEBI registered. I just wanted to let you know that the information provided here is for learning purposes only. Please consult your financial advisor before making any decisions.
This gives me a risk-to-reward ratio of approximately 1:2, indicating a potentially favorable risk for the expected reward. I'm attracted by SAIL's high volume, which suggests liquidity and potential for movement.
Reason for the trade?
I'm considering the technical indicators which show a bullish trend: the lowest 20 EMA is above the 50 EMA, which is above the 100 EMA, and finally, the 200 EMA. This alignment suggests strong upward momentum. Moreover, the daily candle has broken above the 23.6% Fibonacci retracement level and sustained it, further reinforcing the bullish outlook. These technical factors, combined with SAIL's high volume, make this trade particularly appealing.
What are your thoughts on this strategy?
Disclosure: I am not SEBI registered. I just wanted to let you know that the information provided here is for learning purposes only. Please consult your financial advisor before making any decisions.