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  • Writer's pictureraytraceventures

Laurus Labs on June 07, 2023

Rationale behind the trade

  1. Formation of nice price action- higher highs and lows.

  2. Good volume activity which represents interest from market participants.

Risk Management

Risked ~2% of the capital deployed in this trade. Stop loss is set at 336 level. The candle on the 3rd day after the entry did hit the stop loss but due to heavy buying pressure, the price climbed back. When the up trend is strong it is good approach to use 20-day moving average as dynamic support for placing the stop loss.


Screenshot of positions held in Zerodha as of 22-06-2023

Mindset

The up move looks strong with good volume activity. Holding the trade with good conviction. Expecting a target of 450 in few weeks.


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