1. Why Trade for Quick Swing βοΈ - Morning Star at Support of 50% Fib Level - Trendline Breakout with Volume
2. When to Buyβ - Buy above High of 13th April i.e. above 647
3. What should be my Stop Loss π΄ - If stock closes below 610 on Daily basis, exit and wait for next trigger!
4. But my view is of mid-term π¬ - In that case, add more around 600 levels, with Strict Stop Loss of 564
5. What should be my Targets π’ - If you are holding it for swing, get quick points with T1 of 675 and T2 of 700
6. But I want to hold it for some more timeβ³ - Stock is not very much favourable as it has major resistance around 700 levels. Better to see Price action around 700 levels and decide whether to hold or not..
7. Start of Wave 5. Looks like..π€ - Wave 2 gave a flat correction compared to wave 4 - Wave 4 took support at 50% Fib - Wave 2 didn't went below 61.8% of Wave 1
8. What is acting against you βΌοΈ - Risk/Reward is not very much favourable - No clear picture on Monthly Chart as Stock was listed recently - Rs. 680 is 61.8% retracement from top for the stock which can act as resistance
So what should be my action plan ? ππ» Trade, Trail and Observe!