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Rangebreakout

Intraday Trade: watch for range breakoutbuy above 782 in Intraday. For stoploss in Intraday use 5 minute chart and see nearest support. for target use 5 min chart and fibonacci pivots as i don't keep predefined target. try to book partially and trail. Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis 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.
NSE:SUDARSCHEMLong
by stockkar
How to trade in and out of a sideways range?Horizontal price movement is seen when the powers of demand and supply are roughly equal, thus forming a "sideways trend". This usually occurs during a period of consolidation before the price continues a prior trend or reverses into a new trend. A sideways trend is also sometimes referred to as a "horizontal trend". _____________________________________________________________________________________________________________________________ An important indicator is volume, which usually remains flat during a sideways trend as the bulls and the bears balance out each other. A surge in volume is seen when the breakout or breakdown is expected to occur. _____________________________________________________________________________________________________________________________ Ways to profit from a sideways trend : 1. Typically traders will try to capitalize on breakouts or breakdowns, to try and ride the momentum in the direction of the break, thus generating profits. But breakouts are prone to failures, so a more prudent approach can be to wait for a re test of the level price broke out from and then initiate the trade. 2. If the price regularly rebounds from the support and resistance levels as can be seen in the chart, traders may try to buy the security when it nears the support levels and sell it when the price nears resistance levels. _____________________________________________________________________________________________________________________________ Now, as we can see that the price of IGL was bouncing around in the sideways channel. It failed to move past 545 on 09.04.21 and 11.06.21. Similarly it bounced back from 500, at 5 occasions, on 25.03, 06.04, 19.04, 30.04 and 21.05.21. It finally broke out above 545 with above average volume on 29.06.21 and soon made a high of 584. It travelled almost the width of the range after breaking out as is expected. And then it started pulling back and has touched the top of the range. A continuation candle with strong volume has occurred now. _____________________________________________________________________________________________________________________________ A long can be initiated with the following levels in mind if the price sustains above the "LONG ABOVE" level for 15 minutes. LONG ABOVE: 548.70 STOP LOSS: 534.80 TARGET 1: 562.60 TARGET 2: 576.50 _____________________________________________________________________________________________________________________________ Trade your plan and manage your risk effectively. Like and follow for more. :)
NSE:IGLEducation
by Tradeception_
2
Breakout in BOMBAY DYEING & MFG. Breaching in the resistance zone with quite high volume can be seen in weekly timeframe chart can also be called as Range Breakout . would suggest to make a long position at current levels and go for buy on dip if shows any dip till 95 level, can go long at CMP for the given targets in chart with the stop-loss of below the zone (exit only if weekly candle closes below the 94.55 level), can go for ultimate target of level 149.30 form mid term 8-10 weeks time.. THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT.
NSE:BOMDYEINGLong
by Ankushkokane
Venkeys: my bar-by-bar trade analysis from 1700-3100+Following is my bar-by-bar trade analysis of Venkeys, currently sitting at 80%+ ROI. a. Entered NSE:VENKEYS thanks to the range breakout + RSI 60 breach, indicating momentum. Stop placed at around gap filling (1650). 50DMA was ~9% away from LTP. b. Price saw a strong move on the upside on the next day with a sizeable gap-up. 2,000 psych level held + very strong volumes. c. The next day, the price saw a strong rejection of higher levels, but it had held on to the gap up and closed above the prev candle's high. Not exiting here was a tough decision, but such trades don't come up often, and exiting too early may mean you leave far too much on the table. I'd moved my stop to gap-filling and subsequent 2100 rejection. d. Price shook out weak hands by testing lower levels but showed a very strong upmove. e. What follows are a few candles that signal exhaustion at higher levels including an inverted hammer. But by this point, I understood that Venkeys appears to have a history of showing price rejection after making a high and that a strong move might follow. The only way to catch on to this strong move would be to set a trailing stop and let the markets do the work. A stop was set to prev candle low (for partial qty) as I wanted to secure profits, too. f. Trailing stop hit, booked partial quantity profits. Now let the rest of the position run. Potential gap retest possible, but booking partial profits helps you stay in the trade for longer. However, this can also make you hold on to a position for longer than you would have. So best to be strict. g. Started showing signs of support after the dip. h. Tried to breakout, but sellers stepped in making an inverted hammer pattern. But, this is more or less normal. Still holding. i. Strong move after a doji. Staying alert as the price had just breached FIB level. This is where price had typically started showing exhaustion. j. Observing the price movements carefully. Next round of selling around highs. The potential of a further move is still there, as the price has shown its personality. But placing a trail is important. k. Holding position despite the sliding price. In hindsight, I might have waited a little longer than required. Exiting once the lows of the inverted hammers were broken could have been better. l. News of China suspending the import of frozen seafood owing to COVID-19 traces emerges. Venkeys slides, and I'm cautious at this point. Trail hit as 2700 levels are rejected. m. Strong move, but price remains sideways after that for the most part. n. Yet another strong move, and now the price is above 3,000 psych level. o. Still holding partial quantity with the intention to trail as long as the move lasts. I will update as the price moves... This was compiled during the live market, so there's a chance that what I've said in points n. and o. has been negated by EOD. I know the smallcase alphabets I've used are also used in EW analysis. My intention isn't to display any EW, but that was the easiest way of marking the candles for easy reference. P.S. I used FIB channels to test how they work. They aren't exactly my entry or exit basis, but I will do a quick tutorial on them, too. Hope this helps! Happy trading :)
NSE:VENKEYSEducation
by MarketsWithKR