#AFFLEINDIA
LONG @ 1730.30
First Pullback Entry after C&H + VCP Breakout
Risk 0.6%
NEW ATH, UP 7%
Out of 6 open positions, 3 are up 5% in 2-3 days only and lots of good setups are still there to hunt.
Being a staunch follower of BRN theory, I had been asked about my approach on #AFFLEINDIA as it is approching untested level of 2000. Here, observe a very important thing- the "cause" built up before approach to this resistance. The cause-11 week of 1/2
consolidation with proper VCP & C&H setup, reaffirmed by supply retest on pullback- can't be exhausted only on a 15% move from breakout point. If you observe this chart, this has been first major basing since listing for Affle, so a deserving setup to hold for positional. 2/2
What a move in #AFFLEINDIA!
Booked 50% at 2195.00. 27% since long at 1730 in only 7 trading days!
Booking 50% took adequate care of 0.9% loss happened in Affle earlier!
1% on PF, 4.5R generated!
Closed rest half @ 1970. 0.5% made on PF, Net 2.6R on both positions. Weakness was expected hence closed in morning.
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