BERGEPAINT Bullish; above 593.5 on Thursday 16 Mar for Intraday

Updated
Exercise caution as broader market is bearish.
Please check out the INTRADAY Trading Strategy in the COMMENTS section below during the live market hours:
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1) Impulse upmove stage: The strong upmove (nearly upto 2% from breakoutprice) happens within the first five to 15 minutes. "High Risk Traders" buys in hope of another 2% upmove intraday.
"High Risk Traders" may have to patiently wait through the Pullback-Consolidation stage to realize profits. High risk/High reward set up as breakouts may fakeout (reversal)also

2) Pullback-Consolidation stage: After the above "Impulse upmove stage"; the price may then pull back and move sideways (between "Open" price and "High" of the above "Impulse upmove stage").
Safe traders with minimum risk profile may Wait for a breakout from the consolidation to enter at this stage to relize high profits in the final intraday final "Breakout continuation" stage

3) Breakout continuation: Stocks often in the third stage breaks up above the "High" of the first "Impulse upmove stage" and continue to go higher again.

Both Safe Traders/High Risk Traders may book profits at this stage

Stop Loss: You may keep the stop loss @ "Open" price of the day OR "Breakoutprice"

The above information is not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendation.
Trade active
from 594 to 600 Rs
Note
further momentum only above 600
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rejection @ 600 for the second time
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Some consolidation between 597 - 600 required for to break 600 level
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will it be third time lucky? @ 600.. looks likely
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broke through 600 finally ... in a flash 602
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good momentum 603
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weakening momentum @603
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made a high of 603.7 and falling back
profit booking if 602 on downside is broken.
so far a 10 Rs gain on trigger price of 593.5
Trade closed manually
Chart PatternsTrend Analysis

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