JJ_Breakouts

BERGEPAINT Bullish; above 593.5 on Thursday 16 Mar for Intraday

Long
JJ_Breakouts Updated   
NSE:BERGEPAINT   BERGER PAINTS IND
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
Comment:
further momentum only above 600
Comment:
rejection @ 600 for the second time
Comment:
Some consolidation between 597 - 600 required for to break 600 level
Comment:
will it be third time lucky? @ 600.. looks likely
Comment:
broke through 600 finally ... in a flash 602
Comment:
good momentum 603
Comment:
weakening momentum @603
Comment:
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
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