NeeteshJain
Long

DIVISLAB - NEW BREAKOUT

BSE:DIVISLAB   DIVIS LABORATORIES LTD
It is been observed that the price action is facing resistance at 780-85 levels previously and now it has broken above the strong resistance levels, it shall now move further up.

Target: 800

Stoploss: 770
Trade active
Comment: Stoploss Changed to 760 levels
Trade closed: stop reached
Comment: It is still trending up as it is above 750 levels, which is the strong support levels.

Regards
Comment: Looking for a break and close above 785 levels in order to see further rally up to 800 levels. Regards
Comment: It did breakout above 785 levels, and now it shall move further up to 810-815 levels in coming sessions. Regards
Sir, Agree.
Today...March'30 Futures expiry, OI +3.61% n Price +4.15%
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grt
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Sir the actual stop loss for This script is 745 the recent lowest in 4 Hour candle was 748.10(3rd March 2017) , I strongly believe it will rebound from Hitting 750 or 748 in next trading seasons
I am following only 4 hour and 8 Hour candles Price action , Left all indicators for Kids those who believe it and play with it ,
Thanks
+3 Reply
@shiv2798, Yes, you're absolutely correct. Keep hold of it and I believe it shall cross over the resistance level in next few trading sessions if the market maintains above 8900 levels. Regards
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Why you change the stop loss ? , and why price fall after brake out ? Why did your calculated stop loss also got triggered ?
If you can explain , it will be grateful Neetesh Ji
Best Regards
Shivakumar
+1 Reply
@shiv2798, I was expecting a close above 785 levels on hourly chart as the chart was looking very bullish but it did not close above the 785 resistance levels and corrected to previous support levels of 760. I generally make sure that there will be a hourly candlestick close above the resistance levels in order to trigger a breakout or to confirm a breakout. It indicates that majority of traders are participating or I would say the big players are participating with you in order to break through a resistance levels. In this situation, it failed and retraces back to support levels. Now, it will again come up the resistance level to break it again with buying force. Regards
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