it can be possible to continue the trend after consolidation breakout in this scenario.
avoid if huge gap up happen, take if retest properly.
do your own study before taking any decision my analysis are for educational purpose.
In past 6 working days MOTHERSUMI almost gained 30%. Now expect a good retracement.
If MOTHERSUMI giving a gap up opening tomorrow, can expect a high volume of profit booking and obviously scalpers will also comes to market for shorting. That's why am expecting a high retracement !!!!
NIFTY TRADE SETUP FOR MONDAY
Although nifty recovery around 250 points from the low in a single trading day but the market is still bearish.
if market opens above 11080 and sustain then we can initiate long for day trading. But in that scenario, I prefer to sell the put options with 11040 stop loss. .
the market can be range-bound between 11110- 11180.
VEDL has seen a good day or two of range bound trading. I f VEDL crosses above 229.65 with volume tomorrow il buy for a scalp trade with targets of 231-231.50 and a stop of 228.30. i will trail my stops as and when these levels are reached till RSI turns downwards!