Range Trading in $BIRLAMONEY

12 Des 2023

BIRLAMONEY is following a range(nearly 4 months old), currently trading almost at bottom. If we go with history, after 2020 this stock always (almost always- more than 80% time) sky rocketed before their quarter earnings. Now, if we look at this range from bottoms to tops it took 21-22 days and this time IF we assume it will reach the top in 21 or 22 days, it will be around 03-04 of Jan which will be just before it's next quarter result(which is at 11-01). So, I think there are very less chance of hitting Stop Loss in this trade. RRR is ~16 (which is way better than it should be). In addition it recently broke a nice Cup and Handle Pattern which you can see in my previous post(that was a nice trade as we got early entry) which also makes it bullish. I think this should be more than enough for entering in a trade. Enjoy.

Note - This is not a Financial Advice. I am not a Financial Advisor. Do your own research before putting your money in market.