JKIL has broken out of a key long term S/R level at 172. Been consolidating and taking support at 172 for 6 months. The consolidation range being 172 to 206. Over 2 yrs, it has been accumulated and offloaded equally on big volume bars. This time around, the time seems to be ripe for a breakout, as many real estate stocks are setting up nicely. First target would be 258. Next would be 348.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
BUY GUIDANCE: Never ever buy before 3PM. I have been burnt many many times. Try to buy between 3:15 - 3:30PM, later the better.
SELL GUIDANCE: Selling in Profit: Sell earlier in the session when the prices are higher, around 11AM.
Selling at SL: Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.
Note: I reserve the right to be wrong.
DISCLAIMER: I am not a SEBI registered analyst. Please consult your financial advisor before investing.
I am stuck at 204 entered on 7th july thought it was giving break out ....Sitting with 30K loss .....will it cross 204 and when you are expecting this to happen or temporarily will go touch 180 and then bounce
raavigeorgian
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@Arunroyappan, just a word of advice.
a. Pls don't put more than 10-15% of your capital in one stock.
b. Never expect a stock to bounce after a fall (no matter how great the company).
c. Make a compulsive habit of booking your losses at your pre defined SL (I personally use 5-7% SL).
Everything in the market is speculative, only thing that is purely in your control is booking/cutting your losses. Do that. You will make much more money than you expect.