Einstein15

TATA METALI Breakout

NSE:TATAMETALI   TATA METALIKS
Its Bouncing between the levels nicely.
After the huge leg up , it may form a flag before retesting the Lifetime highs.

right, so it closes confidently above yellow, we go green green..
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@shiyas, yes, you can say that. but now, things are changed a bit structurally.
During the first JUMP, there was no structure above that level, thats why it jumped right away.
Then sellers came in and moved down.Now its retesting that yelow(top pink) level again.

Now tomorrow if it breaks out of the yellow again, there is structure present already. More sellers can come and push it down, all the way down to the blue lines of middle pink , even., or bulls will take over and break above the previous high.
SO i'll wait for the break of previous high that the JUMP made, during the first breakout.

Thing is, we dont know how it will play. THere is no confirmation. Just be safe and have your stoploss in place.
There is a good article about breakouts -->
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Well, JUMP is what we wanted. After that we just enjoy the weekend on a good 30 point jump profit.
It then did a BACKFLIP, and back on the yellow balancing beam.
Untill it does a somersault on either side of the Yellow zone, we wait.
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it jumped over it! what now ?
Reply
@shiyas, Well, JUMP is what we wanted. After that we just enjoy the weekend on a good 30 point jump profit.
It then did a BACKFLIP, and back on the yellow balancing beam.
Untill it does a somersault on either side of the Yellow zone, we wait.
Reply
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