Positional Trading Strategy On ASHAIINDIA

Entry:

A breakout above the resistance level around ₹725 is likely to confirm the Cup and Handle pattern.
Consider entering the trade on a strong breakout above ₹725 with volume confirmation.
Target Price:

The height of the cup is from ₹480 to ₹725, giving a range of approximately ₹240.
Adding this range to the breakout level of ₹725, the first target could be around ₹960.
Stop Loss:

Place a stop loss slightly below the support level, around ₹680, which is near the handle of the cup pattern.
Risk-Reward Ratio:

Target Price: ₹960
Entry: ₹725
Stop Loss: ₹658
This setup provides a decent risk-reward ratio of approximately 5:1.
Additional Considerations:

Monitor the volume closely. The breakout should be accompanied by higher-than-average volumes to confirm the move.
Keep an eye on broader market sentiment and any relevant news regarding the stock or industry.
This strategy is for medium to long-term positional trading based on a technical pattern. Always ensure to review your risk management plan.