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AU SMALL FINANCE BANK LTDAU SMALL FINANCE BANK LTDAU SMALL FINANCE BANK LTD

AU SMALL FINANCE BANK LTD

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AUBANK trade ideas

AU Bank Breakout candidate.Stock tried to break out then failed. Came down. As expected with down move came big volumes. How ever the last bar ( Green Arrow ) before pullback was with highest volumes in later end of the down trend, Usually it looks bearish but it is trend reversal because market makes wont short at such lower levels. Then comes the pullback ( purple arrow ) with small bodied candles everyone was waiting for a big red bar to go short. No one is thinking of going long. Many would have shorted here in anticipation of follow up selling. But there is big green bar ( Blue arrow ) with volumes. Now stock is consolidating just below major breakout level. This is how Weak Longs were kicked out from the trade. Now stock approaching the resistance third time with higher lows. High chances of breakout.
Editors' picks
NSE:AUBANKLong
by varadtambolkar
23
[ INTRADAY ] AUBANK LONG BETr: R ratio is 1: 2 Rest as per Charts Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy if it breaks”, You should not buy at all. ======= I use shorthands for my trades. “Positional” - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.) “Intraday” -means You must close this position at any cost by the end of the day. ======= Like - Always follow a stop loss. In the case of Intraday trades, it is mostly the “Low of the Candle”. In the case of Positional trades, it is mostly the previous swings. =======
NSE:AUBANKLong
by Palkesh_Agrawal