LHCL - Trade Idea - Short Term - 5.7% - 6.7%

LHCL has been moving since 5th of November. Present movement occurred from the 4th of December, starting at 59.00, and moving upto 61.90 the 7th. The stock moved into consolidation from the 9th, and moved within 60.90 and 62.00.
As of now it appears to be holding at 61.00, and appears to the present support. The stock is trading within 50% and 61.8% Fibonacci range. The support in the present up trend is 58.70, which was the low of the 3rd Dec. If the resumption of the trend takes place, I expect it to test 65.40, and 66.60 in the short term. The Trade Set up is as follows:

Enter @ 61.00
1st Target @ 65.40
2nd Target @ 66.60
Stop @ 58.70.

The 1st target will give an after cost return of 5.7%, and the 2nd will realize a return of 6.7%. If the set up fails the stop loss will be 3%.

In a short term trade, it is very critical to have a strong stop loss.