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
Trade active
Trade active: Confirmed breakout, now a good rally can be seen. Regards
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
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
Trade closed: target reached: Target 1 reached successfully. Regards
Comment: Hourly Chart Updated

Comments

bhai why r u wasting others money???
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still holding with stoploss of 415
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@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
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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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NeeteshJain ksgullia
@ksgullia, Yes, I generally plan accordingly. Thanks
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Stop loss hit@420
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NeeteshJain aybamasa
@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
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Good brake out
Reply
NeeteshJain shiv2798
@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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