#OBEROIRLTY ... Swing trade idea
Trade setup and detailing
1. **Price Channel**: The stock has been trading within a well-defined upward sloping channel and has consistently respected the lower and middle boundaries of this channel, indicating a strong trend.
2. **Support Levels**: The stock is currently closer to the middle or lower portion of the channel, which could act as a support zone for the price.
3. **Stop-Loss and Target**:
- **Target**: Marked at ₹1,872.00, representing a 5.77% upward move .
This target is in alignment with the resistance near the upper boundary of the channel.
- **Stop-Loss**: The stop-loss is placed at ₹1,724, which is about a 5.66% downside risk. This level likely corresponds to a key support level near the middle boundary of the channel.
4. **Risk-Reward Ratio**: The risk/reward ratio is slightly equal 1:1, which indicates taking on similar levels of risk and reward. However, the overall uptrend in the channel strengthens the possibility of the price reaching your target.
5. **Bullish Trend**: The long-term trend remains bullish as the stock is in a rising channel, which reinforces your expectation of an upward move. The previous swing lows and highs suggest momentum is on the side of the bulls.
### Conclusion:
Expecting a continuation of the uptrend with a potential target around ₹1,872 followed by ₹1,931 , using the support from the middle channel boundary. Maintaining stop-loss at ₹1,715 helps manage risk effectively if the trend weakens.
Overall, the structure suggests a positive outlook, with a move towards the upper channel boundary being the next logical step in the price action.
1. **Price Channel**: The stock has been trading within a well-defined upward sloping channel and has consistently respected the lower and middle boundaries of this channel, indicating a strong trend.
2. **Support Levels**: The stock is currently closer to the middle or lower portion of the channel, which could act as a support zone for the price.
3. **Stop-Loss and Target**:
- **Target**: Marked at ₹1,872.00, representing a 5.77% upward move .
This target is in alignment with the resistance near the upper boundary of the channel.
- **Stop-Loss**: The stop-loss is placed at ₹1,724, which is about a 5.66% downside risk. This level likely corresponds to a key support level near the middle boundary of the channel.
4. **Risk-Reward Ratio**: The risk/reward ratio is slightly equal 1:1, which indicates taking on similar levels of risk and reward. However, the overall uptrend in the channel strengthens the possibility of the price reaching your target.
5. **Bullish Trend**: The long-term trend remains bullish as the stock is in a rising channel, which reinforces your expectation of an upward move. The previous swing lows and highs suggest momentum is on the side of the bulls.
### Conclusion:
Expecting a continuation of the uptrend with a potential target around ₹1,872 followed by ₹1,931 , using the support from the middle channel boundary. Maintaining stop-loss at ₹1,715 helps manage risk effectively if the trend weakens.
Overall, the structure suggests a positive outlook, with a move towards the upper channel boundary being the next logical step in the price action.
Anmerkung
I am even more still bullish on this counter now , waiting for 1820(+) levels to be taken out
Haftungsausschluss
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