IIFL Sec: In middle of support and resistance. Attempt long

Hello Traders,

IIFL Securities after long breakout is exhibiting flag and pole in 75 minutes chart and also has taken support twice above 111 in immediate sessions.

Even if it has a resistance at 118 we can attempt going long for target of 127. To mitigate risk of losses, we will place SL above our entry price as soon as the price reaches 118. and once it crosses 120, we will place our SL at 118.50, and wait for it to reach 127. If it crosses above 127 we will trail our SL. I will also recommend booking 60% quantities at 127.

Stock: IIFL, Cash Segment, Positional Swing Trade.
CMP, Entry: 115
SL: 111
Target: 127
Goal: 10%

Happy Trading!