EMA 50 - Strong Support BounceKPITTECH has bounced from EMA 50 on multiple occasions before.
Presently, Bounce is also synced with the Trend Support and MACD Divergence has been decreasing as well.
Upside Movement is expected if it keeps trading in this channel.
This is not a financial advice. To be used only for Learning purposes.
Thank You :)
KPITTECH
KPITTECH - Resistance Turns into Support - volume and BreakoutKPITTECH - gives good volume supported breakout.
Thursday (Aug12) BO given with good volume but not sustained and the candle close below the resistance.
Friday (Aug13) given good BO strongly supported by volume.
Look at the same KPITTECH shared earlier, for Resistance Turns Support, gave a massive BO.
Let's see will the history repeats?
Previously shared chart on KPITTECH
Intraday Trade: watch for resistance breakoutbuy above 250 when it break its previous swing high
For Stoploss use 5 minute chart and see nearest support.
for target also use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.