SwingAgar market saath de toh aram se 120 jaayega
Entry only if good consolidation seen
CONSOLIDATION is the KING
Markminervini
Dwarkesh Sugar: Will it break out to return a +30% gain?Dwarkesh Sugar is currently trading in a tight range and most likely forming a pivot range of <= 7%
What is the trade idea?
Stock has risen 222% within 21 weeks and formed a good 2T VCP pattern. Now it's been consolidating for a good 17 weeks and with the low risk range that’s currently in progress, it is on my high alert now.
My expectation is that 78.50 should be crossed in the coming two weeks. (hopefully ;-) the markets have a tendency to surprise, always, and I'm wrong about 60% of the times)
I am expecting a possible consolidation within the marked tight range box for the next two weeks.
Here's my Trade Plan
Entry : On Breakout above at 80.40
Initial Stop Loss (ISL): Below @ 66.80 (SL based on structure)
Note: Breakout needs to be supported with high volumes.
Potential Targets: 97.50, 105.90
Need to watch carefully what the price action will do around the resistance of 84 levels. If that is convincingly crossed, then both upper targets have a good probability of being achieved.
Since price has been consolidating for long, my expectation is that 84 ought to be crossed decisively. Keeping fingers crossed though.
Chart marked with the trade plan. Please feel free to clarify your doubts, and trade safe.
