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varadtambolkar
Aug 3, 2021 3:40 PM

Coromandel Short term positive. Long

NSE:COROMANDEL1W
COROMANDEL INTLNSE

Description

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Use this dip to add longs.
Simple Range break. New swing high expected soon.



Ready for range break on daily.

Smaller candles: Contraction Phase. ( Sideways move )
Big Candles : Expansion phase. ( Trendy move )

Expect a breakout soon.

Looking at risk, Breakout trade can be attempted.

Simple swing high swing low method based on price volume movement.
No need of indicators, pivots etc.


Stop loss 825
Targets 980/1050

Comment

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For intraday trade.
keep an eye on 920 levels. As soon as stars to trade above it expect a good move

Comment

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Nearing stop loss waiting for weekly close

Comment

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Why I am Not triggering the SL?

Because stock is trading above 20 SMA on weekly basis.
Before any breakout most of the cases 20 SMA is tested.

Trade closed: stop reached

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Trend AnalysisBeyond Technical Analysisrangebreakoutpriceaction
Comments
Rams2485
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There is an inverted hammer candle formed after today closing and there is a sting support at 765. Could it be sign of trend reversal.
varadtambolkar
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@Rams2485, after triggering the stop loss. Never really checked. Will check now.
Rams2485
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@varadtambolkar any view regarding trend reversal
varadtambolkar
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@Rams2485, will observe for some days. Ealier view went wrong. Will wait for a proper setup to develop
sameerobc
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stoploss hit !
varadtambolkar
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@sameerobc, let the candle close. Tomorrow will review 😃
sameerobc
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@varadtambolkar rewiew !
varadtambolkar
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@sameerobc, stop loss didn't trigger. There's interesting price movement that occurs which forces people to trigger stop loss. Those who placed gtt are now stopped out. Whereas stock has reversed after hitting stop loss
sameerobc
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@varadtambolkar ab to hit hogya sl !
varadtambolkar
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@sameerobc, Still one more day. Lol!
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