Please do like and share the idea in case you find it good and follow it for further updates on it for benefit of everyone. Also, please comment if you have any feedback. This idea by one right trade is only for study purpose and is not a trading call.
Hi Sir,
I too had same view and post break out and waited for sustainability at 5 mins level and bought at 403.5 but strong selling came and went down :(
Now it is in good momentum and i hope it moves back again to top and not to the same range :P
Kindly share your view towards 450 , 510 and 563 Targets and time period sir.
it will be more helpful.
onerighttrade
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@PrasannaSelvaraju, This is swing trade on daily charts , so i don't look for 5 minutes in this, i keep things very simple so i will look only on daily candlesticks. There are different things happening with same stock on different timeframe charts, so you need to focus only on one of them and that is your timeframe. Now, stocks rarely moves in straight line. I still see this one making higher high and higher low, so good chances of this hitting my target. Once it hits my target of 443, i will book 75% positions and keep stoploss for 25% positions at 383. For now i do not bother abou levels above my target but sure it can go. for that matter anything can happen in market (it can also hit my stoploss) , so its best to focus on near levels. Also, i don't like the idea of timing the markets, but i expect my trades to hit my target or stoploss in approx 2 days to 1 month.
PrasannaSelvaraju
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@onerighttrade, Thanks for the detailed explanation. I learned on these points and its a takeover points for me ;) <3.
Looks like the support was there in @ 360 to 362 zone and it bounced back.
Now the road is clear. Happy that I connected with you :) <3.
onerighttrade
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@PrasannaSelvaraju, Am glad to be of any help. In fact, more people i help, more my trading improves.
I too had same view and post break out and waited for sustainability at 5 mins level and bought at 403.5 but strong selling came and went down :(
Now it is in good momentum and i hope it moves back again to top and not to the same range :P
Kindly share your view towards 450 , 510 and 563 Targets and time period sir.
it will be more helpful.