Sometimes you get a breakout and then some more analysis reveals stock is still in a range.
Take this stock ADANI PORTS.... we have a valid breakout above 320 but this immediately runs into a resistance at 350 levels.
Your SL is at 290 so risk reward is not favorable.
Kamalesh P Langote
Research Analyst
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (RESEARCH ANALYSTS) REGULATIONS, 2014:
Take this stock ADANI PORTS.... we have a valid breakout above 320 but this immediately runs into a resistance at 350 levels.
Your SL is at 290 so risk reward is not favorable.
Kamalesh P Langote
Research Analyst
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (RESEARCH ANALYSTS) REGULATIONS, 2014:
- Unless specified, I have no investment in this stock.
- I /my family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am recommending
- I /my family have not received any compensation from the company where I am recommending a trade or investment.
- I have not served as an officer, director or employee of company and have not been engaged in market-making activity of the company covered in the research report.
- I have no material conflict in recommendations posted here
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