Some people say that pivot points are sufficient to identify trend and some say look at the other indicators like MCAD, Supertrend, etc. I would say everything works and nothing works. One has to use the right tool at the right time to identify trend, one tool or strategy will not work in all scenarios. Today after breakout best intraday call is Hindalco but the trick is always to identify and enter into the trade before breakout. Before pivot points super trend and MCAD clearly showed uptrend. As soon as it broke 402. Next clear target was 413 and now 427, 469 in the coming few days as per Fibonacci. Stay long in the trade as long as indicators are positive.
Its simple.
Pivot helps to identify support and resistance.
Indicators confirms trend.
Volume gives confirmation.
Using all together gives the perfect opportunity to trade.
One just need to know which tool to use and when, which requires discipline and patience.
Its simple.
Pivot helps to identify support and resistance.
Indicators confirms trend.
Volume gives confirmation.
Using all together gives the perfect opportunity to trade.
One just need to know which tool to use and when, which requires discipline and patience.
Comment:
Target achieved in 1 day and after that stock is only falling.
Trade closed: target reached