A theta decay strategy example.
Note the Fibonacci Levels.
They have asked to buy right? I will say it will fall more till it's major support to bounce back. So why catch a stock is a downtrend when you can catch it in an uptrend?
Based on normal breakout strategies. Long Position Setup 1 is based on Newton Method and exit of Long Position Setup 2 is based on breakout confirmation.
It's Scott Carney's Harmonic Pattern CRAB. After identifying the crab pattern, a short position is taken at the low of the price at swing/pivot point D with stops at the high. The targets are 61.8% and 127.2% of the CD leg, which price manages to reach.
Now it is fueled with GST. Huge OI on 1100 Agreesive Short Covering spotted Volume Invitation spotted on Thrusday
Justdial is heading towards it's support aggressively. If support broken it will be free fall.
It's all about resistance and support points.
It's based on Newton Method's short trading setup.The Last candle crossed the newton line. If it fall below the swing low; short it with risk : reward 1:2.5 Let's wait for the trading opportunity.
Trading Opportunity lies on that violet channel breaks. It's currently inside a parallel channel with a possible bearish breakout.
These are the trades he done though. Zerodha Opentrade's time is fucked. It's in UTC. 03/03/2017 08:50 BOUGHT AXISBANK17MARFUT NFO ₹ 515.55 03/03/2017 08:50 BOUGHT AXISBANK17MARFUT NFO ₹ 515.98 03/03/2017 08:49 BOUGHT AXISBANK17MARFUT NFO ₹ 515.98 03/03/2017 09:58 BOUGHT AXISBANK17MARFUT NFO ₹ 517.2 14/03/2017 03:47 SOLD...
03/03/2017 03:48 BOUGHT BANKNIFTY17MARFUT NFO ₹ 20531.0 03/03/2017 03:54 BOUGHT BANKNIFTY17MARFUT NFO ₹ 20567.81 03/03/2017 09:55 BOUGHT BANKNIFTY17MARFUT NFO ₹ 20590.05 06/03/2017 03:50 SOLD EXIT PARTIAL BANKNIFTY17MARFUT NFO ₹ 20660.0 06/03/2017 04:00 SOLD EXIT COMPLETE BANKNIFTY17MARFUT NFO ₹ 20710.0 These times are on UTC. Please adjust with 5:30