This is a very good opportunity for new comers to learn market behaviour and see how price behaves in the market from inflection points.
Marked areas are inflection points for the stock.
Two types of trades possible here.
Sell at the resistance with potential sellers or wait for them being taken out and buy the strong breakout on the upside.
There are always two ways of looking at a trade. Also an important point is to look at the market from the buyers and sellers POV.
Will update as how the trade plays out. Look to trade of the daily charts. Have shared weekly charts for more clear charts and price action.
Disclaimer - Please trade as per your risk appetite. Do not look to risk your entire capital. I am just sharing my thoughts and ideas in the market and will not be responsible for any profit or loss. Please do your due diligence as well.
Marked areas are inflection points for the stock.
Two types of trades possible here.
Sell at the resistance with potential sellers or wait for them being taken out and buy the strong breakout on the upside.
There are always two ways of looking at a trade. Also an important point is to look at the market from the buyers and sellers POV.
Will update as how the trade plays out. Look to trade of the daily charts. Have shared weekly charts for more clear charts and price action.
Disclaimer - Please trade as per your risk appetite. Do not look to risk your entire capital. I am just sharing my thoughts and ideas in the market and will not be responsible for any profit or loss. Please do your due diligence as well.
Comment:
Trade has not yet triggered.
Trade active:
Traders going long. Can place a Stop loss below 675 on closing basis.
TGT - 765,795, 810 +++
TGT - 765,795, 810 +++
Comment:
Traders who like to trade false breakout or sell in supply area can sell when stock closes below 675 For TGT's of Demand Zone.