@vishrajv For these kind of setups I rely on price action and don't consider fundamentals. However, I'll stay away from a stock where earnings release is due in 2-3 days as the stock can move either way reacting to earnings..
sincerejaat
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@viswanathreddykurla, is there any screener to find VCP stocks ! How many charts you daily go through everyday!!
viswanathreddykurla
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@sincerejaat, chartink.com/screener/weekly-scanner-3082125 I run this scan on weekend and add the stocks to the watchlist. For the following week, these are the stocks I will be trading. I go through these stocks to find VCP setup ( High Lows and Lower Highs) and trade them.
sincerejaat
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@viswanathreddykurla, Thanks bro it will be really helpful .. I recognise this pattern but to find it I had to go through hundreds of the charts daily.. which is increasing my screen time and also a stressful process .. but now I get the whole idea : Scan only on weekend and I will be having a small watch list to go through over a week ..
viswanathreddykurla
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@sincerejaat, also remember that you have to keep the stock in the watchlist for as many weeks as it moving sideways and not downwards. Eventually, either it provides an entry or setup deteriorate. Recent example is IRFC, it came under the scanner on 24/11/23 and entry triggered on 11/12/23. For the period between these two dates, the stock moved sideways with even more tightness which makes it high probable setups with low risk
sincerejaat
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@viswanathreddykurla, OkY brother..I hv seen Irfc, set up was perfectly fit… I will reach to you again if there will be any confusion.. Thanks for helping