moneyatwork

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

Long
NSE:NESCO   NESCO LTD
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/-

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