VarunNeel90

Power Patterns of Price Action

NSE:RAILTEL   RAILTEL CORP OF IND LTD
Power Patterns of price action in Railtel
Comment: If you observe the chart 165 price range is acting like an FTR and now price came down again to that level and is sustaining at that level might indicate FTB formation..... institutions might be filling their orders ... so conceptually price might rally again beyond all time high 190

disclaimer : just for educational purpose only

Comments

Momentum might continue tomorrow also. But be careful coz heavy profit booking might come at anytime. look for reversal patterns bro.
I already booked my profit already as it hit my stoploss at 165...entered at 119 and added quantity as the price moved upside averaged it to 135 rs and I didn't try to enter again after it hit my trailing stoploss.
Bro if your are in good profit ,better book atleast 50 to 75 % quantity and let the 25% continue till the stock looses it momentum, place ur stoploss where u exited ur 75% quantity
+3 Reply
@VarunNeel90, I bought 100 share @172 what should i do now.
Reply
VarunNeel90 naveenmishra20jul
@naveenmishra20jul, If u dont want to book loss , and if u see the price is rising again at 165, better to average at 165 levels with stoploss strictly at 159... no more entries, if in loss consider it.
but anyway keep the stoploss at 159 even for present quantity... just to have a chance if the price shoots up and not to loose anything more than that
Reply
s2sharma1994 VarunNeel90
Mishra G why would you buy at 172??
it's wasn't a time to enter this stock!
still don't worry gangs bought more qty. and trapped retailers.
if you are holding it don't worry and keep holding price will rally tomorrow until 3 pm Friday.
because I am gonna wait for that much.
+1 Reply
what I believe is the momentum will continue till Friday
if you remember back in 2019 around June a stock was listed iifc something (don't remember the name) it started hitting upper circuit since the day it was listed and stock price rose from 1000 to 1800 in days
and after Monday it fell
I believe same is going on here well
I still got 3 more days to earn more profit that's what I think
yeah gangs may start shorting on Thursday or Friday
checking quasimoto pattern thanks for analysis...
+2 Reply
what do you think?
will it keep hitting upper circuit until Friday?
+2 Reply
VarunNeel90 s2sharma1994
@s2sharma1994 Check stock edge app... there Railtel delivery kept decreasing in volume gradually... so keep an eye on it too
+1 Reply
yeah I saw the move today many a times the thought crossed my mind let's book profit let's do it
then I thought let's give it a chance
and gangs trapped retailers (feel bad for them)
they accumulated qty and what I believe is price is gonna shoot tomorrow and on Friday
waiting for 3 pm
+1 Reply
I have posted a reversal pattern called Quasimoto Pattern in my other ideas , check it n u can find more explanation in youtube if you search for it. it will help u get out of the trade at the right time
+1 Reply
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