BNL Long Trade (Third Strike)
Rationale: After its inception in PSX in 2013, BNL went into a tremendous uptrend, reaching a high of Rs. 61.7, then corrected and down trended to Rs. 12. The stock consolidated for 4 years between Rs. 49 and Rs. 12. Recent rally broke out of this accumulation zone, creating bullish FVGs and IFDZS for a safe long trade entry.
🚨 TECHNICAL BUY CALL – BNL🚨
- Buy 1: Rs. 45.90
- Buy 2: Rs. 44.30
- Buy 3: Rs. 38.6
- TP 1: Rs. 58.7
- TP 2: Rs. 67.9
- TP 3: Rs. 74.77
- TP 4: Rs. 86.70
Stop Loss - Below Rs. 34 ON DAY CLOSING
Risk-Reward Ratio- 3.65
aution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
Rationale: After its inception in PSX in 2013, BNL went into a tremendous uptrend, reaching a high of Rs. 61.7, then corrected and down trended to Rs. 12. The stock consolidated for 4 years between Rs. 49 and Rs. 12. Recent rally broke out of this accumulation zone, creating bullish FVGs and IFDZS for a safe long trade entry.
🚨 TECHNICAL BUY CALL – BNL🚨
- Buy 1: Rs. 45.90
- Buy 2: Rs. 44.30
- Buy 3: Rs. 38.6
- TP 1: Rs. 58.7
- TP 2: Rs. 67.9
- TP 3: Rs. 74.77
- TP 4: Rs. 86.70
Stop Loss - Below Rs. 34 ON DAY CLOSING
Risk-Reward Ratio- 3.65
aution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.