Sesagoa has been trading in a tight range for sometime and today it has given a breakout of upper end of range. Since this stock is a high beta stock, traders should trade long on sesagoa stock at current market price of 201, with intraday target of 205. Stop loss must be placed at 198 level.
Trading Analysis on Sesa Goa:
Stock is already trading higher by about 3% today and trading in the direction of breakout we will be looking for buying opportunities on sesa goa.Volume at time of breakout was also higher, Sesagoa was trading at its 3 months high today, I expect buying will resume and we are going to see this stock making new highs today.
Trading idea is valid for 4 July 12 only.