Wait it out, strike while the iron is hot!
According to setup and OI analysis, I think a 23800 CE SELL @ 7.35 and 22800/22900 PE SELL @ 12.6/18.5 would be good enough for 6th July Weekly Expiry.
Stock has broken out of a 2 YEAR consolidation phase (range) with great momentum. Looks like its read for a pullback/retest of previous resistance/new support. This new support matches with the 61.8 retracement level, which is also where generally reversal happens. Lets see how it turns out to be. If the stock makes a new high: go long, and cover short if you short now.
Lets see if a reversal signal is generated. Nifty has filled the last two recent gaps, so I am expecting it to fill this one too if the pattern becomes valid. BB has tightened up, a breakdown could add to confirmation. (Median 20 MA acting as support for now at 9602-9604.
Broke down from declining neckline (v.bearish) also broke daily support trendline.
AVOID long unless closing above 9709 (unlikely), indicators are set for short. A break of trendline followed by negative MACD crossover could lead to a correction. Was thinking of going for a 9800 CE SELL and 9200 CE BUY? any opinion? P.S: I'm very new to options.
Wait for high vol. breakout confirmed by indicators and go long.
Everything in chart Weekly chart: Rounding bottom breakout done already. ADX: above 30 indicating strong trend.
Strong resistance break. Small trading range immediate break. Target according to overall big trading range (support and resistance marked.
keep tight SL around 509-508 book some profits around 554-555 and then final target around 594 as per flag pole. buy if opens positive around 530.
Everything in chart. This is a follow up on the weekly breakout. The stock is at a trend line support and has given a positive candle today signaling upward move. Showing good signs on daily too with a potential ascending triangle. Good Luck.
Ascending triangle breakout soon on a daily chart as well. Keep SL according to risk appetite and go for given targets. Falling rubber prices also good for the stock, good results too.
Everything in chart. Go long only on a good volume breakout in this 15min chart. Good luck.
Weekly flag breakout with high volume. Target is open but acc to pattern given as height of the pole. SL is place at the low of last candle a.k.a new support.
RSI divergence suggesting breakout soon. Buy above 623.
Everything in chart. Suggestions welcomed.
Everything in chart. Suggestions welcomed.