Retested Breakout in BHARAT SEATS LTD
BHARAT SEATS LTD (BHARATSE) has indeed retested its breakout. This could be a positive sign as it often indicates that the initial breakout was strong and sustainable.
Entry:
Pullback: If the price pulls back after the breakout, consider buying on this pullback as long as it doesn't retrace too much of the initial move.
Target:
Previous High: A potential target could be the previous all-time high, which is around T1 : 240
and T2 : ₹260-270
Fibonacci Extensions: Using Fibonacci extensions based on the breakout move can also provide potential target levels.
Stop-Loss:
Swing Low: Place a stop-loss below the recent swing low, around ₹200.
Please note: These are general recommendations based on the information provided. It's crucial to use your own judgment and consider your risk tolerance when making trading decisions. Always consult with a financial advisor for personalized advice.
Entry:
Pullback: If the price pulls back after the breakout, consider buying on this pullback as long as it doesn't retrace too much of the initial move.
Target:
Previous High: A potential target could be the previous all-time high, which is around T1 : 240
and T2 : ₹260-270
Fibonacci Extensions: Using Fibonacci extensions based on the breakout move can also provide potential target levels.
Stop-Loss:
Swing Low: Place a stop-loss below the recent swing low, around ₹200.
Please note: These are general recommendations based on the information provided. It's crucial to use your own judgment and consider your risk tolerance when making trading decisions. Always consult with a financial advisor for personalized advice.
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