raavigeorgian

Nath Bio Genes 2yr Breakout retest / 10mth Rounding on heavy vol

Long
NSE:NATHBIOGEN   NATH BIO-GENES (IN
The stock is showing some very interesting price action despite the sector being quiet in the last few days. A Gap up opening one day before earnings . Notice the massive volume clusters during the rounding bottom formation. It broke out of long time resistance on very high volume and followed through with absorption volume . Came back on low vol to test the breakout area, formed a bullish pin bar and shot up on a 11% gap up with disproportionately high volume . Wonder if there's a goldmine hidden in the earnings result. Keep a close watch.

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 20MA on Hourly chart (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.


Comments

what target you propose ? any numbers in mind ?
and chart is well explanatory. 💯
Reply
@iamright, I don’t have fixed targets, dynamic supports work better for me, you can keep riding till it breaks the 20MA on Hourly.
Reply
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