Nifty 50 – Long – Entry 7884, Exit 8038, Stop loss 7730 (Risk 154)

[GK Pai]

Nifty 50 Index (Even though we cant trade Nifty 50 Directly, just considered for practice purpose)

There is a double bottom with a duration nearly 20 days, around 7730

So we can consider it for long position.

Entry = above previous high = 7884,

Stop loss = Equivalent bottom = 7730,

Risk = Stop loss-Entry= 7884-7730=154

Exit =Entry+ Risk=7884+154=8038

Also there is relative high volume in entry

Trade Plan is

Position – Long

Entry=7884,

Stop loss=7730

Exit=8038

 

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