#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.
Note
I am even more still bullish on this counter now , waiting for 1820(+) levels to be taken out
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.