Neighbours Envy Owners Pride

"This is my trading journal, not a trade recommendation. I Will be Posting and updating the ideas regularly, as market progresses, only for educational purposes for me and others who want to benifit from my experince.

Another long opportunity till 516, Breakout from triangular consolidation, Stop loss 407.

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Comment: Lookout for long opportunity when prices touch dotted magenta line.
Comment: Can you rust this 10 month long trend ?
Comment: change of behaviour
Comment: stop loss level tested but not on closing basis.
Comment: prices are at 260/480 bar (i.e 54%) break out of prices from triangle pattern generally occour at 66% ( i.e at 320the bar out of 480(base of triangle).
Trade closed: stop reached: stop loss gone
Comment: FUNNY..!!


Brother Are you still holding this stock? How long do you think does it take to breakout?
@Nithinkonakalla, YES , I am still holding because price is still consolidating in triangle, but now with every passing day it is coming closer to apex, last week i was planning to buy more near 400 but missed the opportunity. Truely speeking, for the sake of discipline I am keeping the stop loss at 407 on closing basis EOD otherwise market looks week. Prices are at action line (bottom most line of pitchfork) today and i am expecting them to respect this line. if prices reach at apex of triangle they may give a 3% move upside. If prices breach the pitchfork prior to that then based on that behaviour of prices can be considered changed. see the green dot , this is 320th bar
sandeepkumarmeenagreaternoida sandeepkumarmeenagreaternoida
Great analysis brother... keep going ⚡✌️
Nithinkonakalla sandeepkumarmeenagreaternoida
@sandeepkumarmeenagreaternoida, Any update on this? it has changed its behaviour today
@Nithinkonakalla, Till dotted magenta line is respected, BEHAVIOUR is intact. I am longa (435) and keeping SL(407) on closing basis.
Nithinkonakalla sandeepkumarmeenagreaternoida
@sandeepkumarmeenagreaternoida, oh okay understood!!
Good one Sandeep. Wipro just acquired Capco and seems a good news for the scrip
@Gotledu, That's great..I have placed buy order @ 435. let us hope it gets filled tommorow.
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