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Breakoutsetup

Breakout-Power GridHello All, I hope you are healthy and happy! 😃 Currently I have this stock in my radar. A clear breakout in such market conditions is uncommon and that is what makes Power Grid really powerful. Breakout is backed by good clean candles and volume hence it seems reliable. It will be very interesting to see how the stock behaves now as it is at ATH in such market conditions. One can clearly see from it's previous journey that every breakout has been re-tested and then reconfirmed by the bulls. I believe one can initiate a initial position here and add more at the re-test only after the confirmation at the retest that bulls are still in charge of this stock. I would request you all to study the chart first, notice the nuances of the stock movement and then plan your entry and exit for this trade. Like I always say, let's learn and earn together😊🍻
NSE:POWERGRIDLong
by Ankit_Oberoi
3
WELSPUN CORP- Strong BreakoutHi All, I hope you are all doing good:) The market is currently in a phase which nobody would prefer it to be. But this is the time where we should work hard so that when the wind starts flowing in our preferred direction, we would be the first one to reach the coastline. I was excited for this weekend as I had a clear objective of finding out stocks which did not fall much this week and held their ground. And, I was completely surprised by this chart. In such times when there is bloodbath going on in the benchmark index and majority of the major stocks, this stock has given a clear breakout of a 7 month old resistance. Now, I would still not go and simply buy this stock on Monday. I would still wait for a pullback as it is good to be cautious during such market phase. But it is definitely worth putting this stock under our watchlist and observe. Do not let FOMO take over, if this stock is showing such strength then trust me it will give huge targets to cherish at the right time. Now as a homework, analyse the stock on different time frames. Establish your own view. Mark support and resistance lines yourself (you can share your chart with me in DM). If you are good at fundamentals, go through them and let me also know. In short, create a PLAN! Like I always say, let's learn and earn together. Cheers! ;)
NSE:WELCORPLong
by Ankit_Oberoi
2
Breakout Candidate- CDSLHello all, I have found a interesting setup which I want you all to study, learn and make a view. We all know that CDSL is a good fundamental stock and owing to that it saw a really good uprun in the bull phase of the market and then went into time and price correction which I consider as healthy. Now, after correcting and spending a lot of time in the sideways, it seems to be building up for the next move. The chart is forming a VCP pattern with consecutive higher lows. Has tested the resistance line multiple times (the more it touches the weaker it will become). I would also want you all to notice that it is consolidating nicely this time close to the resistance line and seems ready to take off the resistance this time with full power. Acc to me, the setup seems good to take a position here to get that first mover advantage. I would also request my friends @varadtambolkar and @vorayash05 to give their views on this setup. You guys also give a study to this chart and comment your views on it. Like I always say, together we can all learn and earn :) Happy Trading!
NSE:CDSLLong
by Ankit_Oberoi
11
CNX-PSUBANKHello All, PSU banks have been underperformers, however I can see a turnaround in this sector. A very beautiful VCP pattern is in formation and with a breakout of the horizontal line we may see some good rally in PSU banking stocks. Now, what to do after knowing this? How to look for stocks in this sector which may give good returns? Simple solution: 1) Take out the list of PSU banks. 2) Observe their charts. 3) Watch out for the one's which have already started to outperform their sectoral index i.e. CNXPSUBANK. 4) Keep a track of the stocks which are near their breakout zone or are trading at their resistance/support zones ( add them in your watchlist/ place price alerts). 5) Once you prepare a list of such stocks, read about them. See news articles related to those banks. I am sure you will find some good articles as to how their results might be. Note: Once you find your bet do not simply put in all the capital you want to invest in one go. Enter let's say 50% of the amount you want to invest, and then if the stock behaves in your direction you may think of adding further capital. Learn Pyramiding. I hope you will all follow this process and omit/add steps to it while filtering the stocks as per your experience/expertise. Do reach out to me incase you have any doubt or any advise/suggestion for me:) Happy Trading!
NSE:CNXPSUBANKEducation
by Ankit_Oberoi