manmohansolanki

Successfully Breakout and Retest

Long
NSE:EXCELINDUS   EXCEL INDUSTRIES
Price is at retest of the breakout
1000 Will act as major support


Wait for price to show strength
SL 900
Target 2450

Comments

100 coins
+1 Reply
@bharat1973, Thank Brother 🙏😇
Reply
Hii Manmohan Bhai,
Can you guide how do you select stocks ?
+23 Reply
@meetb35, Glad you asked it in public chat people have asked it a number of times in personal chat. So the thing is you got to understand you have to do a little extra effort to find
1. Do sectoral analysis find a sector that can outperform benchmark index or which is already outperforming that you can do by tracking and observing the market (relative strength)
2. Then comes the stock on finding a stock that is exceptionally good with the technicals in that sector.
3. Go through as many charts as you can to learn recommending roughly around 200 on a weekly basis
4. Then start rejecting those stocks on predefine setup(rules) of yours like in one of my setup I use RSI extensively to reject. You can use any indicator to reject like DMI ADX MACD RSI Socastic Moving Averages any are plenty of it. Learn to master one indicator and use it with your technicals
5. Then probably you will be left with 20 stocks, now comes the part find a price that you are willing to enter at optimal RR so what you can do is set Alert in the system and sit patiently let the price come to you.
+14 Reply
Shrish_Nayak manmohansolanki
@manmohansolanki, Can you recommend certain books or materials on how I can learn more about this?
+8 Reply
iron_19 manmohansolanki
@manmohansolanki, Grateful for the knowledge shared
+1 Reply
it's good one but have few queries. what is the time period to achieve this target and what is the right time to enter.
+18 Reply
johntradingwick chandramunipandey007
@chandramunipandey007, The right time to enter would be after the current weekly close, if and only if it manages to close above 1000. The 1000 level will act as a psychological resistance.
+1 Reply
manmohansolanki johntradingwick
@johntradingwick, Thank You Rajat
Reply
Bunny1991 johntradingwick
@johntradingwick, Looks like its already shoot a bit. Do we still need to wait for weekly closure?
+1 Reply
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