Nesco - Looks good for Target of 600 with small risk of 20 point

Nesco looks like Wave 4 should end here at CMP 500/- and can be bought here with smaller risk of 20 points, i.e. 480-478/- for the higher targets of minimum 600/-

Comment:

So far the trade is working well and now with closing price of 544/- it is giving more than 1:2 RR, so the SL can be moved to slightly more than entry price to 505/- or the safe traders can book half of the qty here and keep half with new SL as state earlier.

Comment:

With yesterday's closing at 575/-, it has almost reached 1:4 RR. For the risk of 20 points it is returning 75/- rs. Still looks good. But partial profit booking is advisable at such handsome risk reward ratio.

Trade closed: target reached:

With Nesco reaching 610/- it has achieved its target with more than 1:5 RR. Beautiful setup followed by super attractive profits. It still has upside left one can book it full here or can keep the trailing SL at 595/-