About meLike to remain low-key, super passionate about trading and markets.
Analysis is for short term to med term only (Swing).
Not a full time trader.
Not a F&O trader,
Looks for opportunity on Long side with limited short side trades
Breakout with Volumes!
After long consolidation stock has given breakout with volumes
Additionally this can be confirmed via CNX Pharma breaking out of long consolidation.
Avoid high risk / trade as Nifty is still under 50 DMA
Look at chart for details,
As Nifty is still under 50 DMA, Risk only 50% of what you normally would.
Rationale : Fresh Breakout, 52 week, Excellent volumes and Higher High on Relative Strength.
Pullback structure with a low risk and high reward opportunity. Close positions if closing on basis stock is 164.
Stock made 52 week and gave a solid pullback. Testing region of Demand.
Disclaimer: Holding positions
Dont blindly chase momentum and buy breakouts. Wait for Ideal Trade location in order to manage risk properly.
If you are very tempted to Trade Breakout then buy 30% to avoid FOMO and remaining at test of Demand.
SL for Short term traders is close below 99
SL for Swing traders is close below 93
Remember you are here for the long game and not thrill. Hasty...
I firstly start looking for sectors that are doing relatively well in Market during choppiness, IT has now started performing well. So my preference will be to lookout for new breakout in IT.
See my previous post on Sonata Software(Belongs to IT again) and now Mastek has given confirmation with great volumes.
SL should be swing low i.e 1135. I will not allow too...
Sonata Software hit an All time high with above average volumes. In turbulent times its the defensive sectors such as IT, Pharma, Consumption perform better, Look at the CNXIT chart,
The structure turned to HH, HL now.
i am more interested in IT space now.
Disclaimer : Holding Positions.
Stock has hit all time high. Once can enter at current level with Swing low as SL.
Reduce risk per trade as market conditions are choppy.
Volumes already 25% of last 10 trading days average in the first 20 mins of Trading.
Focus on protecting capital than make big bets.
Disclaimer: Holding positions
As you can see, after a prolonged consolidation stock has now given breakout on large volumes. Can enter 50% positions on Breakout and 50% on PB near 150-155 zone.
Keep a Strict SL of swing low near 135.
Given the overall market conditions are not ideal, Risk only half of what you normally would. i.e If you risk 10k per trade, do not risk more than 5k.
High reliable pattern - Sellers unable to push prices down. Price Action is becoming tighter at the right. VOLUMES and BREAKOUT are a MUST!
One should enter ONLY if the closing is above 34
DO NOT DO AMATEUR MISTAKE of Preempting.
Why do I like this ?
1)Clear up trend and expanding range of candles
2)All AMC stocks (HDFCAMC, NAM_INDA) are doing well but this is performing the best among them.
3)Stock hasn't pulled back even when General Market did (This reflects Strength)
Do not try to complicate - Study basic things and Price Action to understand the Psychology of the Market.
The stock earlier broke out and moved swiftly upward and formed a new base - After a solid base/ Stage 3 formation, the stock has given a breakout on Phenomenal volumes.
One can enter here and treat 67 as strict SL as it violates the swing low there.
Why I like this structure?
1)Relative new listing - These always have more potential (look at Happiest Tech)
2)Uptrend structure even when market was pulling back
3)Good volumes on up days and low volumes on pullback days
4)Trending RS line (This is not RSI , I am referring to Relative Strength - Performance in terms of broader market)
5)Molality contraction seen...
Based on Price action the Gold has started making lower highs and lower lows, Additionally this gives me higher confidence because all the Moving Averages have moved down.
Rule 1: Price below 200 DMA
Rule 2: 50DMA< 100DMA<200DMA
Rule 3: Proper trade location, given the price has given a pullback, its a great opportunity to enter the trade from 1725 and keep...
As you must have seen for the last few days that BTC and ETH have taken a breather. After a long consolidation, ETH is attempting to breakout from its range.
You should only focus on Price Action and check the Daily and Hourly time frame.
The only problem with the breakout is lack of strength i.e Volumes. I would rather miss out an opportunity than preempt