falakshayaan16

CLEAR BREAKOUT OVER WEEKLY CHARTS!!!

Long
NSE:GPPL   GUJARAT PIPAVAV PO
Stock has given a significant closing in today's session which sets slightly above the breakout levels, it is highly likely that it will give big bullish move from here so, a long call is recommended with respect to the stop-loss and targets.

Comments

I bought this on very next day of posting this idea, but it is moving down only. Should I sell it?
+1 Reply
falakshayaan16 Himanshu93
@Himanshu93, what are your levels?
Reply
Himanshu93 falakshayaan16
@falakshayaan16, it is 110.
Reply
falakshayaan16 Himanshu93
@Himanshu93,unfortunately your buying levels are a little high but no worries, keep a strict stop-loss below 98 on the weekly closing basis. Stock should not breach these levels on the closing basis, give this trade a little time stock still looks good to be on the long side. And yeah a little tip for the next time never make any position when stock is in the big momentum most of the times try and make your positions when there's nothing happening.
Reply
Himanshu93 falakshayaan16
@falakshayaan16, thanks for such a detailed explanation and trade advice! Sir, it gets really difficult for a new trader like me to buy a stock during breakouts as one never knows that the share price will retrace back to previous resistance and form a support there or straight away jump for the price upmove after breakouts. If first thing happens I could buy at lower levels after breakout and if second thing happens I don't get a decent price as the price is moving upwards only. Thanks again for your kind messages. Learning breakouts from you!
+1 Reply
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