SAIF TEXTILE UNORTHODOX BUY TRADE (For Advanced Traders)

SAIF was previously in downtrend – then it showed reversal and has been trending in a Megaphone formation since May 2023. It has performed a liquidity sweep by moving below the megaphone formation, hitting the Bulling POI and sharply reversing upward with supportive Volume Gradient. It is currently in a pullback in spike phase of uptrend. Pull backs in this kind of spike phases are usually shallow and brief. Therefore, it is wise/profitable to accumulate SAIF at Current Price (CP) and close of each 1D candle – till it crosses 14.2. Profit Taking should be at the culmination of next up-leg.

🚨 TECHNICAL BUY TRADE– SAIF 🚨

🎯 BUY STRATEGY: Buy @ CP (13.09) and close of every 1D candle till it reaches 14.2

📈 TP1 : Rs. 14.2
📈 TP2 : Rs. 15
📈 TP3 : Rs. 17.4
🛑 STOP LOSS: BELOW Rs. 8 (Daily Close)

📊 RISK-REWARD: High Conviction | 1:3.8
Caution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
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