Stock in radar #7
The stock is on the resistance level of multi-year of breakout since 2018.
In the first rounding, the downfall was a clear shake-out of Covid. In the second rounding, the volume was dried up in the accumulation phase. In the second rounding, the volume was year's high. Year's high volume rises the probability of a strong breakout. The RSI came down from bullish zone and again crossed the resistance of 60 and came in bullish zone. Keep on radar for future trading.
CESC trade ideas
CESE LONGPOSITIONALLY LONG
ENTRY TARGET SL Mention in the chart.
ALWAYS TAKE TRADE WITH CONFIRMATION
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
Swingtrade in CESC.Over the past 14 years, the price has been moving within a rectangular channel pattern. It goes up and then comes back down to a support level, creating a significant demand and supply zone.
Currently price trading at 25% down from its all time peek. As visible price has formed another parallel channel pattern inside the bigger pattern. It seems all set to give a breakout in daily timeframe.
If the price breaks out with high trading volume and stays above the line, it's a good signal to start trading. We can go long (buy) and aim for at least a 18% gain from our entry point.
Buy- 79
Targets- 94, 96.5
Stoploss- 74
Please note I am not SEBI registered. Do consult with your Finance adviser before investing.
#SwingTrading #technicalAnalysis
Buy Today, Sell Tomorrow: CESCDON'T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Book profits within the first 30 minutes of the market opening
- Try to exit by taking 3-5% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
- SL can also be maintained as 1% or closing below the low of the breakout candle
The levels mentioned on the chart are calculated using the BREAKOUT INDICATOR
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and the rest of the time they either consolidate or fall
Trendline Breakout in CESC
Buy Today, Sell Tomorrow: CESC