Entry Price: Current Market Price (CMP) Stop Loss (SL): ₹196

TRADERSMONK07 Updated   
Entry Price: Current Market Price (CMP)
Stop Loss (SL): ₹196
Target Price: ₹500
Risk Management: Setting your stop loss at ₹196 helps in managing risk, ensuring that potential losses are contained if the market moves against your position. Ensure that this stop loss level is aligned with key support levels seen on the technical charts to avoid being stopped out prematurely by normal price fluctuations.
Profit Target: The target of ₹500 is ambitious and suggests a very bullish outlook. It's important to monitor the stock’s performance and adjust your target as necessary based on market conditions and company fundamentals.
Entry Strategy: Entering at the current market price means you are ready to capitalize on the potential upside immediately. Make sure to confirm this entry with any additional indicators or strategies you use to validate trade entries, such as the behavior of the stock at key resistance levels or confirmatory signals from other technical indicators.
Monitor the stock closely, especially how it behaves around your entry price and subsequent price movements towards your target or stop loss.
Consider using trailing stops if the price moves favorably to lock in profits and protect from a reversal.
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