Long

Consolidation breakout in Usha Martin

Updated

Currently breaking out from a consolidation within a bigger consolidation (See chart)

Goood volumes today and if a breakout is confirmed by EOD, I think it will go on to breakout from the larger consolidation as well.

Targets for the smaller consolidation amount to 35 points, whereas the targets for the bigger consolidation amount to 55 points, from the point of breakout respectively.

Trading above all imp averages as well indicates good strength of the major bullish trend too
For ideal R:R, a pullback will be the best point of entry!

Keep track.

Note

Cooled off after hitting the upper boundary of the larger consolidation!

Note

Watch for a pullback for the best entry

Note

Hit the upper boundary today and settled below as well, but not falling down. Time to wait and watch

Note

Fell back into the inside consolidation range, so that breakout is negated
I had a small position here, will be exiting completely
Will wait for the breakout from the bigger consolidation.

Trade closed: target reached

aniketkulkarni500

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