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JJ_Breakouts
Apr 16, 2024 4:09 AM

ONGC bullish; above 283.5 ? - Tuesday 16th Apr. Long

OIL & NATURAL GASNSE

Description

The above information does not constitute investment/trading recommendation and it is purely for educational purpose. Please check the Strategy below...

SWING Trading Strategy:

Position is created, only upon stock closing above the entry price on day closing basis and is held on for 5-10 trading sessions for larger gains (5-10%)

INTRADAY Trading Strategy:

1) Impulse upmove stage: The strong upmove (nearly upto 2% from breakoutprice) happens within five to 15 minutes. "High Risk Traders" buy in hope of another 2% upmove intraday.
"High Risk Traders" patiently wait through the Pullback-Consolidation stage to realize profits. High risk/High reward set up as breakouts may fakeout (reversal)also

2) Pullback-Consolidation stage: After the above "Impulse upmove stage"; the price may then pull back and move sideways (between "Open" price and "High" of the above "Impulse upmove stage").
Safe traders with minimum risk profile wait for a breakout from the consolidation to enter at this stage to relize high profits in the final intraday final "Breakout continuation" stage

3) Breakout continuation: Stocks often in the third stage breaks up above the "High" of the first "Impulse upmove stage" and continue to go higher again.

Both Safe Traders/High Risk Traders book profits at this stage


This do not constitute, financial, investment, trading, or other types of advice or recommendation.


Comment

Triggered now

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Momentum only above 284.75

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Call option now @ 9.00Rs

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Call option from 9 Rs to 9.9 now

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Call option from 9 Rs to 10.3 now... and stock @286

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Call option from 9 Rs to 10.9 now Up 20%... and stock @286.7

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Call option from 9 Rs to 11.5 now Up 27%... and stock @287.8... Good enough!!!

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Stock @290 Call option from 9 Rs to 13 now... Up 55%
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