DEEPAK NITRATE: A good setup after a great run

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


Can we consider this as breakout??
@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
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?
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"
Good detailed analysis... Thanks
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