Quess Corp is moving in narrow range. After drop in volume. Volumes are picking up week on week basis. Price is sideways in 980 & 840 Range. Basically Stock is in contraction phase, which will be followed by expansion phase in which breakouts occur.
Drop in volume is a sign of big move. As the buyer n seller fight has settled & the price will move in the direction in which the price & volumes goes.
Since the price is sideways there are other signals of a up-move
Breakout of a Major Resistence/Neckline
Healthy higher high & higher low structure
Combining the volume & price movement. A breakout on upside is highly probable.
Also what's the target are you expecting, given your stop is 17%
varadtambolkar
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@Invouni1986, I'm looking onto weekly charts hence 17% is enough Stop loss. Usually i give 15% stop loss but here I'm adjusting my qty. Here my target is around 1150 22% upsdie. Will assess the movement at that level. As the stock may make higher high on monthly chart. Will trail stop loss.
Even 17% stop is hit I won't loose much Capital here. I'm prepared for that too😃
Invouni
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@varadtambolkar, Good to see position sizing, But Risk Reward Of ~ 1:1, profitable only with batting average of >70-80%. Good luck