Here’s the Chart
Bharat Forge post earnings made a big surge and generally that’s how stock starts its momentum journey. If there is follow through and stock during consolidation does not decline below 219 – then one can look at target of 270 on upside.
The Problem
When stocks are in downtrend, they make so many false starts that it becomes difficult to bet on the right one. It’s like trying to start a bike which you keep kicking hoping this effort will work. We don’t know whether this effort will succeed. One can attempt a trade with 219 as stop loss knowing fully well that risks are high.
