HPAL - Weekly Breakout

Analysis for educational purposes only. I am not a registered analyst.

Joined previous Higher Highs to get a trend line.
- Price closed above the trend line
- Region between close & previous HH is the entry zone. We cannot expect a stock to test the exact same value.
- Used Relative Strength to check if the stock is doing better than Nifty
- DMI+ making Higher High also supporting the trend
- Set SL as previous HL or in cases where there are other lows close by, choose the lowest one.
- Calculate the possible loss assuming the stock hits SL
- If you are OK with the calculated loss, enter.
- Trail the SL at every new Higher Low.
- Wait for breakdown of a Higher Low OR Target

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