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Rangebreakout

Tata Elxsi – Range BreakoutAfter being locked in a range of 1140-1260 for more than a month, Tata Elxsi NSE:TATAELXSI has finally broken on the upside yesterday. I can see that it formed a large bullish candle with good volume yesterday. Good opportunity to buy here with stop loss a few points below 1260 for another cycle of upmove. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:TATAELXSILong
by nano6yogesh
1
Day Trading with a Simple Strategy: Is it Easy ? :DNo absolutely not, its not easy. Perhaps the most difficult type of trading is the intraday trading. Reason being we have just 6 hours to accommodate our trades, and most of the time stocks dance here and there before giving that 15 min. to 30 min. window in which they give trending moves. I always get ready to lose when I day trade, but I always know how much risk to take. Today I had a small trade in Mindtree which I thought is worth sharing on TV. Mindtree has been in a downtrend on the daily and hourly charts. I watched it consolidating yesterday. Today it started the day with a gap outside yesterday's range and quickly retraced back to the range. It was first sign of weakness. Second Candle A had a nice bounce from the support but that was not enough to initiate long. When the stock is in a long term downtrend , I can't buy just on the basis of a bullish candle on a lower time frame chart. Candle B bounced from 449.50. It was huge, positive and above average volume response. OK.. we can take some risk if this trend continues but no continuation seen. I placed a sell stop order just below 449.50 along with those fellow traders who bought in candle B and placed their stops below the low of this candle. In the very next candle sell order was triggered. I placed a stop loss order just above the high of candle B. The very next candle C was scary for sellers like me, a long wicked hammer with nice volume. Although I did not had a chance to sell at the low of this hammer, I decided to trail -- remember an old saying, " Let you profits run". I trailed every 15 min. candle and got stopped quite near the low of the hammer. Although the trade looks small it was a little short of 1% the stock's value. This trades quickly turned into favor but this does not happens always. So its good to follow the trend; look for patterns and ranges and play as per convenience. Hit like if this information was interesting. Trade safe, stay healthy. Regards Bravetotrade
MEducation
by Bravetotrade
8