nikhilgodhani

""Classic example of Breakout with Volume"[HAPPSTMNDS]

Education
NSE:HAPPSTMNDS   HAPPIEST MINDS TECHNO LTD
''Happstmnds Recent IPO"
After very good IPO listing
Stock was in consolidation after Steller listing
was not able to break first day high for quit few times

1. Try to break in first attempt(shown in candle '1')
good volumes seen but candle was weak onw
But BO of this candle not happened

2. Again try to BO (shown in candle '2')
good volumes with very strong candle
after forming candle '2'
stock went to consolidation with decreasing volumes
BO of candle '2' happened with strong candle and good volume
then very good move seen

this is live example of breakout with volume

Comments

Grt Sirji. Wonderfull example of setup.pls elobrate how you have select or scan this stock.what parameters or scanner to you selected to get this type of trade setup
🙏
+10 Reply
nikhilgodhani goodtrade789
@goodtrade789,
Thanks for your kind word
Basically i am scan (see chart) daily each stock of F&O specially and some other liquid stock manually
+3 Reply
goodtrade789 nikhilgodhani
@nikhilgodhani,
Thanks for Reply.
But there may some critaria or some system you have adopted based on indicators or other parameters to look into or search into such stock for further trade in these stock

Like based on RSI or ADX or Volume value which attarct you to search trade in these stocks.
+1 Reply
nikhilgodhani goodtrade789
mostly I see volumes and price action
in addition to this I also see 3 basic simple moving average (21,50,200)

price behaviour around moving average and near support and resistance
Reply
nikhilgodhani goodtrade789
volume must be higher side above last few days
Reply
goodtrade789 nikhilgodhani
@nikhilgodhani,
Thank for reply
but my observation abut volume was always increase after breakout which create false decision for trader for investment in that breakout stock and it may be late for investment before stock reachs it high or low.
Reply
goodtrade789 goodtrade789
@goodtrade789.gmail.com
Reply
nikhilgodhani goodtrade789
@goodtrade789,
hi,
My strategy is to buy high and sell even higher
as famous quote "Only two people know top and bottom of the market: God & a liar"
+2 Reply
Nice clean chart analysis supported by a good description of what you are seeing. I've picked this for an editors choice. Thanks for contributing to the community.
+6 Reply
@AngusMcK,
Thanks for choosing my Idea, appreciated
Will looking forward to contributing more.....

Thanks
+4 Reply
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