Long
AMARAJA Battery Industries - LONG
This stock is showing a Bullish Set up on the Weekly Charts based on the Dynamic Indicator. This got on my radar as it is creating a few confluences:
1. Setting up of Long on DYNAMIC Indicator (Proprietary)
2. Stock created a 52 Week High most recent week
3. Stock created a new 3-month High in most recent week
Trade Idea:
Entry on Monday Open (30-Nov-20)
Initial SL - A comfortable multiple of ATR(14) or ATR(20). ATR is calculated on DAILY Chart. ATR(14-Day) is to be used as an example.
I suggest using a 4x minimum. Example calculation for SL : Low of Last week - 4*ATR(14)
As of Closing on 27-Nov-20:
ATR(14-Day)=28.23
Low of Week=862.05
Initial SL=862.05-4*28.23 = 805
Target - No Target - Momentum Play
Trail SL - After 4 weeks, keep trailing every week as:---- Low of Week - 2*ATR(14)
Holding Horizon - Up to 6 Months.
1. Setting up of Long on DYNAMIC Indicator (Proprietary)
2. Stock created a 52 Week High most recent week
3. Stock created a new 3-month High in most recent week
Trade Idea:
Entry on Monday Open (30-Nov-20)
Initial SL - A comfortable multiple of ATR(14) or ATR(20). ATR is calculated on DAILY Chart. ATR(14-Day) is to be used as an example.
I suggest using a 4x minimum. Example calculation for SL : Low of Last week - 4*ATR(14)
As of Closing on 27-Nov-20:
ATR(14-Day)=28.23
Low of Week=862.05
Initial SL=862.05-4*28.23 = 805
Target - No Target - Momentum Play
Trail SL - After 4 weeks, keep trailing every week as:---- Low of Week - 2*ATR(14)
Holding Horizon - Up to 6 Months.
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