After giving the target (45) for inverted cup with handle pattern, stock taking supports from 54.90 and Marche towards the previously broken support of 97.35 and retesting as Resistance.
Go long decisively broken on closing basis of Resistance 97.35 1 st Target-138, 2nd Target 150 Stop loss-88
Comment
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An inside Bar formed today in day chart in the range of 88 to 98 I think in may be trade in the range of 88 to 98 for a while.
Comment
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Revised Stop loss-94
Comment
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SL -102
Trade closed: stop reached
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Trade active
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New SL for Down 105 1 st Target-138, 2nd Target 150
yes technically you said , it's right it's dessending triangle. but market is just 2 percent down to April high, so we have to see it's breakout or one more fall expected
JPALANISAMY
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"BREAKOUT"
Breakout doesn’t work all time without the real potential, otherwise it must be a “Trap”
For dealing the Tarp, we need to apply some filters like Price, Time & Friday Close to reduce the number of false signals (or) Whipsaws.
reek1281
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What if it can't break the resistance or how long should one wait for the breakout?
Resistance/Support means, where buyer lose their control and seller take in charge vise versa.
Take more Time for breaking a important resistance you have to wait with passion untill it happen.
VikasGupta
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Always follow money management before jumping to any trades
Take only 1% risk as your SL
No.of shares=1%×capital/SL difference
If capital is 5lac
Then 1%×500000÷25=200
Even big players who invest in crores don't take stop loss more than 2% in any trade.
Without the money management you can't earn from the markets and soon end up blowing your capital.
No matter how much money you have, you can't save 500 crore too without money management.
samarthgulati64
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Should we take a trade in a breakout even if overall market sentiments are negative?
JPALANISAMY
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@samarthgulati64,it was an idea for investment not for trade. the negative sentiments should not be remaining in negative. there is hope for recovery.
samarthgulati64
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@JPALANISAMY, sir I am not talking about this particular trade. my question is in general that if market is having negative sentiments and if we see a breakout in any stock so does it matter even if market is going down means that should we go long in that breakout against the overall market.
JPALANISAMY
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@samarthgulati64, Sir, generally, if market is going down strongly, how will breakout happen in stocks alone?
what about your stoploss?
However, there are so many stocks trading at 52 week high in current negative market
pl checkout
samarthgulati64
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@JPALANISAMY,thank you sir for clarifying so what do you suggest how should we take a trade in a breakout. in past 2 weeks I missed a lot of trades due to this.please help