praveen.bhatiya

Beautiful Flag Pattern : wait for the breakout ZEEL !

Short
NSE:ZEEL   ZEE ENTERTAIN ENT
Beautiful Pole has been formed and a flag is in making. If it gives breakout and closes out of Flag boundaries only then the trade should be initiated but one can put the stock in watch list and prepare for the trade. Clearly on the last day of the pole the volume was the highest and so should be on the day of breakout for a good Flag pattern formation. Good Luck
Order cancelled: Didn't give proper breakout (Volumes were less considering the settlement day) so am skipping the idea of trading it.

Comments

I thought this is having good support in 500-505 levels. Bought two times at these levels and booked profit of 15 points each time intraday.
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what is stoploss for short ?
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I have mentioned to wait for the breakout so the Stop loss would be decided at that level. I would post the stop loss and target level if it gives breakout.
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sunilshinde1304 praveen.bhatiya
Sir When to short the script? Please advise
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praveen.bhatiya sunilshinde1304
It has not given the proper breakout so the trade is not generated. A Close out of flag boundaries with good volume gives good trade which was not the case so I am closing this idea without any trade possibility.
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