Trade rationale

Other – Study mentioned in Notes Below

All Time high Breakout. Entry - Stock trading at new All Time High. Post 15/02/2021, when stock broke into ATH with very high volumes, it has been consolidating in narrow ranges with volume contraction and retracement near 21 EMA. * Stop Loss (510) is below the breakout candle low, which is also below the 21 DEMA. * Target - As there is no overhead resistance, target remains open. The first considered target of 650 provides a good risk to reward ratio of 1:2.