varadtambolkar

Range breakout expected

Long
NSE:TCPLPACK   TCPL PACKAGING LTD
Stock consolidating since 9 months.
longer is the consolidation more powerful is the breakout.

since stock is up today 10% buy only partial qty
wait for dip till 400 or
wait for range break and enter on testing.

All other observations on chart.

Many times I have covered range & consolidation breakouts.
Advantages
1. Stop losses are low.
2. Kicking out by hitting SL is occurs rarely.
3. Breakouts are of high intensity, Quick gains.
4. If you have entered in the lower end of the range &
breakout fails, you still get good exit.
5. Profit probability is higher.

Check similar ideas below

Comment: Upper circuit Today.
There's a minor resistance around 480 now
Comment:
Rising three methods.

Note: Last candle is yet to close
Comment: Target 1 Hit 590

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