Darvas Box breakout
1) confirmation stage after done go bearish stock
2) target are opens but .. trade own your risk
I am not a sebi register this only for education purpose .I am not responsible for any loss or profit
3) possibly is if stock go up side this fake breakout and break trendline then again bullish .
Darvas box breakout on daily and weekly chart.
Volume is also supporting.
buy above 212
after 1:1.5 shift the Sl to the buying priceand then to the the bottom of next box and ride the trend.
Stock is trading near all time high which is perfect for Darvas box strategy.
Stock is in uptrend and body of the last hammer candle closed above 38% which is a bullish sign.
Best buy above 248.
initial target 2:1, after 1:1 trail stoploss to purchasing prize.
stoploss will be below this candle.
High volume breakout is what is important for the trend to sustain.
The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
DRC Systems India
Cmp - 273
DARVAS Box is clearly identifiable
Keep an eye
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
Kiri Industries - Monthly Charts - Bullish
Caution - SICC hearings and other court related matters may have some impact on the stock price.
** All Capital Market Standard Disclaimers Apply **
Disclosure - Holding
As you see the price it is struck inside the rectangular darvax box pattern as same as Nifty IT index.
Nifty IT index has made breakout the resistance and hit ATH, the same way we are expecting the HCL also break the upper resistance and enter into uncharted territory soon
After 5 months of consolidation, the IT index has breakout from the box. As Largecap IT is not performing well because they are the heavyweights of the index, now it time to bet on large cap IT giants like HCL tech, TCS, Infosys etc.,
NSE:TITAN was trading inside the range(box) for nearly 6 months and finally broken out with a wide range bullish candle supported by heavy volume.
Note : Before breakout the stock consolidated near resistance for around 6 days(Highlighted in yellow). Hence the stock might continue to rally for another session and then pullback. Always do not chase the price...
Weekly chart of TITAN clearly indicates the price is in verge of DARVAS box breakout but in RSI, there is a negative divergence seen. So we have to wait for the upcoming weekly close before going long in this stock
Strong demand at 2283. (Bottom of the box)
Targets - 2369 (Top of the box)
Or Wait till the price is broken on the upside(2369) and place the buy order.
SL - Risk 1% of your money.
Disclaimer: Author may enter in trade, take your own decision. This is an trading idea not an trading or Investment advice.