Raghulramdoss

Can we take long trade in ADANIENT now?

NSE:ADANIENT   ADANI ENTERPRISES
ADANIENT had given brekaout from descending triangle pattern few days ago but the breakout momentum was not so great. Last trading day this scrip had moved up by 7.2% with some good volume . So if you have missed the breakout is this a right time to enter this scrip again? I would say no, because now this scrip is nearer to supply zone and also if you long now your Stop Loss would be deep, the most preferable Stop Loss is that candle low which is 7.2%
So if you are ready to take that much risk then you might scalp and may book your profits at supply zone . If the scrip was very bullish , then you may take another long position near Supply zone and have your Target at All Time High.