raavigeorgian

Chambal Fertilizer - 3Yr Base on Base Breakout

Long
NSE:CHAMBLFERT   CHAMBAL FERTILISER
The entire sector is on the move. The volumes in this scrip are very high.

SL: Below Breakout Candle.
TGT: Breakdown of 20MA on Hourly chart (on a daily close basis)


BUY GUIDANCE:
Never ever buy before 3PM. I have been burnt many many times.Try to buy between 3:15 - 3:30PM, later the better.

SELL GUIDANCE:
Selling in Profit:
Sell earlier in the session when the prices are higher, around 11AM.

Selling at SL:
Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.


Comments

Looks like the Accumulation phase is over and fueling is done and markup phase is going to start,
+1 Reply
raavigeorgian ashishtambe
@ashishtambe, Yes, hopefully it'll fly next week.
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How to decide target price and risk/reward in such long term rectangle breakouts. Kindly help.
Reply
@HHRW, Depending upon your risk, here are a few ways to set SL. You can go to the lower timeframe (in this case Daily), and set your stoploss below the breakout candle. If the weekly candle is too long, you can set SL in the middle of the candle. You can also use 20DMA as your SL. For targets, it's best to follow a dynamic support instead of a fixed SL. Once the stock runs up significantly (15%+), I use 20MA breakdown on hourly to get out of the trade.
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HHRW raavigeorgian
@raavigeorgian, Awesome thanks for a fantastic reply. Please keep sharing quality stuff....
+1 Reply