rajesh066060
Long

DEEPAK NITRATE: A good setup after a great run

NSE:DEEPAKNTR   DEEPAK NITRITE
DEEPAK NITRATE: A good setup after a great run. Prepping for another? Focus on the inside bar
Trade active: Stock is on the move
Comment: Let's see if it crosses INR 515 for an entry
Trade active: The script is in the buy zone (crossed INR 515)
Trade closed: target reached: Target achieved: intraday high INR 554.50

Comments

Can we consider this as breakout??
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@G11192, it's in the buy zone for sure however can't consider it as BO yet, but I notice the price surged along with volume spike which is a good sign. Thanks
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What is your current view on it now..is it taken support what you have drawn blue line in the chart(even candle looks bearish today)...can be bought now?
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Hi @G11192,

To answer your 1st question regarding the blue lines:

1) The blue lines are marked on the chart which indicates the Entry (@ 515) and Exit/ SL (@ 472 which is approx 5% below 50 MA on the day it was charted).

To answer your 2nd question about my view:

2) As per my chart and my strategy, I would wait for the price confirmation and take an entry only above 515 specifically when coupled with volumes.

Just remembering a great quote from one of the great gurus “Money is made by sitting, not trading.” - Jesse Livermore"
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Good detailed analysis... Thanks
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