There's some interesting price action happening in Edelweiss Fin After a strong base formation it gave a Breakout with good volumes expansion. It retested thrice on the same support of 51 giving the stock a strong bounce every time. After it broke out it halted and started going for a pullback and that too with dull and weak sellers' interest and this low volume...
If you analyze the 1h TF you will find that it has broken the zone and looking good for upside.
You can use 5 minutes TF for making entry in the trade, Observe the levels on 5 TF
15 weeks base - a cup. yet to complete
3 pocket pivots in 2 weeks - indicating signs of accumulation and bullish change
very quiet volume thr' out base
good 2 quarters - eps growth
upper trendline break and sustain
SL - 187
TGT - 250 - 280
11 weeks base - cup n handle on weekly
perfect VCP on daily
also a ascending triangle continuation pattern
volume dry up
> 100% prior move
riped for BO
First entry above 770.
The chart looks very attractive.
If one looks at its Quarterly chart, it'll seem like a test of the breakout area, and now headed higher for yet another breakout.
Notice there's a similar pattern formed in Oct-Dec before it broke out.
Moving along with sector.
SL: Sell below Breakout Candle.
TGT: Breakdown of 20MA on Hourly chart (on a daily close...
Moving along with sector.
SL: Sell below Breakout Candle.
TGT: Breakdown of 20MA on Hourly chart (on a daily close basis)
BUY RULES:
Never ever buy before 3PM. I have been burnt many many times.Try to buy between 3:15 - 3:30PM, later the better.
SELL RULES:
Selling in Profit:
Sell earlier in the session when the prices are higher, around 11AM.
Selling at...
We see a pattern within a pattern here.
A low vol flat 1mth base within rounding bottom pattern.
Broke out conclusively with volume. Good swing opportunity.
9 week base.
1st test of 50 DMA - chances of holding are high.
pocket pivot.
2T VCP - Volatility contraction pattern
Triangle breakout.
Need to break 160 level for strong upmove
14 week consolidation.
One red flag is - prior trend is lagging.
Forming a cup.
Not is 2nd stage.
Pocket pivot off 50 DMA.
Volume lookout is good.
TGT - 60-65 min.
19 weeks cup n handle.
shakeout done in the handle. it coincided with 50 DMA, holding.
pocket pivot just prior to BO.
nice volume contraction in a base.
up day volumes is higher than down day volumes withim base.
Tgt - 480 - 500 - 540
