NeeteshJain
Long

JustDial Channel Breakout

NSE:JUSTDIAL   JUST DIAL LTD
It has been observed that the price action is breaking out of channel pattern and shall further move up to resistance zone .

T1- 460
T2- 480
SL - 420
Mar 08
Trade active
Mar 08
Trade active: Confirmed breakout, now a good rally can be seen. Regards
Mar 09
Comment: Which Initially looked like a convincing breakout, turned out to be a failed one.
Here is an updated look on the chart,


In next session, if hourly chart closes below 420 then it shall further dip to strong support of 400 levels.

Thanks
Mar 13
Comment: As we could see in last few sessions that the price action did not close below 420 levels on hourly chart which kept the support intact and now today the price action finally breaches above the downward channel indicating further higher movement.

Here is the chart for reference


Thanks
Mar 15
Trade closed: target reached: Target 1 reached successfully. Regards
Mar 16
Comment: Hourly Chart Updated

bhai why r u wasting others money???
Reply
still holding with stoploss of 415
Reply
@smn3949, You can hold until the hourly candle does not close below 420 levels once it does on next trading session then you may exit the position or reverse it for 400 levels. Thanks
Reply
smn3949 NeeteshJain
@NeeteshJain, thanks
but daily chart lookins good for long
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Stoploss is on closing basis sir ???
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@ksgullia, Yes, I generally plan accordingly. Thanks
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Stop loss hit@420
Reply
@aybamasa, Yes, it did touch the support zone of 420-415 but it held above 420 levels. On monday, if the hourly candle closes below 420-415 levels then it shall further touch the strong support of 400 as shown in updated chart. Thanks
Reply
Good brake out
Reply
@shiv2798, Initially, it looked like a convincing breakout but eventually came out to be a failed breakout. Now, we shall look forward on Monday for further confirmation. Thanks

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