Artemismed broke out of base. Long opportunity...
- Good volume
-Trading above key DMAs.
-Group movement in the pharma and healthcare sector.
Safe traders:
Wait for a retest or add 30-50% now and add the rest after the retest. SL 265 closing basis. Deep SL. So position sizing and risk management are imperative.
Risk per trade is Around 18%
RR: 1:1.2
Aggressive traders:
Can try going long above today's high ( 324.5) with SL below today's breakout candle closing basis.
Risk : 11.2%
RR: 1: 2
This is just a view about how to approach this breakout. Breakouts can fail easily in this market. So please consult your financial advisor before investing.
Hold for medium term if you know how to manage the risk. Short-term plays in this market are tricky in my opinion.
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