Bharat Forge Long term positonal trade
Long entry at Rs 490 with Rs 420 as intial stop loss.
Setup:
1) Nifty is heading upwards
2) Nifty Auto just gave a fresh breakout from long term downtrendline
3) Bharat Forge also gave a breakout accompanied by Good Volumes and a move of Relative Strength from Negative to positive territory.
4) Face of moving average is also up.
5) Trail stop loss with 30 Week WMA and Swing Low method.
This is Steve Weinstein Strategy discussed in his book.
Setup:
1) Nifty is heading upwards
2) Nifty Auto just gave a fresh breakout from long term downtrendline
3) Bharat Forge also gave a breakout accompanied by Good Volumes and a move of Relative Strength from Negative to positive territory.
4) Face of moving average is also up.
5) Trail stop loss with 30 Week WMA and Swing Low method.
This is Steve Weinstein Strategy discussed in his book.
Penafian
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