ABB INDIA LTDLong
ABB INDIA LTD. (Near Breakout level)
What I see in this stock I already mention it on the chart.
Let's come to conclusion:
First we have to understand the concept of Mother & Baby candle.
So what is mother candle strategy & how to use it?
This is to be used only when a big candle is formed with a big tail. The bigger candle is “mother candle” and then next few candles trades only within the high and low of the candle which is known as "baby candle". This shows the confirmation of the strategy. So, when the breakout is given on either side, that time trade has to be taken.
So according to this let it break the 9200 level first then we think for the long & if price breakdown below 6950 then we go short only. Till then just wait and watch.
For risk takers only: You may consider long above 8280. Here price already breaks this level so any pullback in this script you may accumulate this stock with some small quantity by putting SL of 7950. Stock is in uptrend so that we consider long not short. Only with the trend.
I am not a SEBI Registered. This analysis is purely for educational purposes only.
.
If you gain some learning from this chart, then please like this post for more reach & also do comment if you have any questions regarding this.
Let's come to conclusion:
First we have to understand the concept of Mother & Baby candle.
So what is mother candle strategy & how to use it?
This is to be used only when a big candle is formed with a big tail. The bigger candle is “mother candle” and then next few candles trades only within the high and low of the candle which is known as "baby candle". This shows the confirmation of the strategy. So, when the breakout is given on either side, that time trade has to be taken.
So according to this let it break the 9200 level first then we think for the long & if price breakdown below 6950 then we go short only. Till then just wait and watch.
For risk takers only: You may consider long above 8280. Here price already breaks this level so any pullback in this script you may accumulate this stock with some small quantity by putting SL of 7950. Stock is in uptrend so that we consider long not short. Only with the trend.
I am not a SEBI Registered. This analysis is purely for educational purposes only.
.
If you gain some learning from this chart, then please like this post for more reach & also do comment if you have any questions regarding this.
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