Learning to catch High Probability Breakouts

[revendar]

Hello Amit,

I see a potential breakout in Union bank and jswsteel. But confused as to which side. My view: jswsteel - upside and union bank downside..
Can you please clarify this with charts?

 

[amitrandive]

Hello Amit,

I see a potential breakout in Union bank and jswsteel. But confused as to which side. My view: jswsteel - upside and union bank downside..
Can you please clarify this with charts?

Revendar

I am just a learner.Posting my views.

Union Bank has a support around 180 levels .As you can see from the daily and Weekly charts.

There is a 50% Fibonacci support at the same level.So it is in a short term down trend

But , I would only short it below 180 levels.Would go long above 220.

Union Bank Weekly Chart

Union Bank Daily Chart

 

[revendar]

Thanks bro. I'm also a learner and trying to figure out good trades.
Found this thread to be useful. Please continue this thread. I will also start posting stocks and will try to analyse here. :thumb:

 

[amitrandive]

Hello Amit,

I see a potential breakout in Union bank and jswsteel. But confused as to which side. My view: jswsteel - upside and union bank downside..
Can you please clarify this with charts?

JswSteel, currently seems in a consolidation phase on Daily levels.

A support around 1170 levels.Has recently seen a new high.So would wait for it to take support at 1170 before going long.


JSWSteel Weekly Chart

JSWSteel Daily Chart

 

[revendar]

IDBI broke support of 88. Targets of 75.
apollotyres in a channel . Target of 157.
View attachment 19849

 

[revendar]

SBI looks attractive at 2380
Jubilantfood looks attractive at 1100

 

[manojborle]

Revendar

I am just a learner.Posting my views.

Union Bank has a support around 180 levels .As you can see from the daily and Weekly charts.

There is a 50% Fibonacci support at the same level.So it is in a short term down trend

But , I would only short it below 180 levels.Would go long above 220.

Union Bank Weekly Chart

Union Bank Daily Chart

Amit please comment on what you think on this.

 

[revendar]

Apollo hospitals is a sell at 1148. Targets of 1040/1020.
Nifty looks bullish. However 7777 needs to be watched! Good play will be on SBI, hdfc, LT, TATASTEEL, BOB

 

[amitrandive]

Amit please comment on what you think on this.

Manoj

Good Charts !!!
Think you are not using the 50% fib level.

See some links
http://www.learntotradethemarket.co.../trading-50-percent-retracements-price-action

http://www.tradingmarkets.com/recent/how_to_trade_reversals_with_fibonacci_retracements-677320.html

 

[amitrandive]

Apollo hospitals is a sell at 1148. Targets of 1040/1020.
Nifty looks bullish. However 7777 needs to be watched! Good play will be on SBI, hdfc, LT, TATASTEEL, BOB

revendar
Thanks for the analysis.
Our intention is to develop good chart reading.

Would be better if you post charts,with your analysis,so that we can all learn.