Learning to catch High Probability Breakouts

[revendar]

DRL hourly charts here.


If it breaks the trend line resistance, it will reverse around 2980-3000 which is fib resistance
As expected could not cross 2900 today. But caution should be taken as all pharma stocks are rallying.

 

[revendar]

i dont know why you short this script it is trading above weekly and daily resistance or am i missing something

anil negi

AnilJi. Since I trade options, I found 620 to be a resistance based on weekly charts. Since put option premium finds an increase in premium near a big resistance I have went to buy it. Also Such a big resistance will normally broke by a gap up and I dint expect it to be dissolved like today. But will see tomorrows action as well.

 

[Shantala]

With-trend breakout of NR7

 

[amitrandive]

Please post charts for this and reasons.Both scrips are bullish today.

Also we are looking for positional plays and not intraday in this thread.

i dont know why you short this script it is trading above weekly and daily resistance or am i missing something

anil negi

With-trend breakout of NR7

Anilji and Shantala Sir

Thanks for your charts.
Better to trade with the trend than against the trend.

 

[revendar]

I'm unable to add more attachments. If I haev to add, I have to delete my previous attachments. Is ther any way to do this without deleting previous attachments. My size is limited to 100KB

 

[sabhlok_r]

I'm unable to add more attachments. If I haev to add, I have to delete my previous attachments. Is ther any way to do this without deleting previous attachments. My size is limited to 100KB

Revendar,
U can upload your charts on any free site like imgur, tinypic,etc and then paste that link here.

 

[revendar]

Nifty view:
after good premiums being eroded in last 3 days. Operators are ready to move the nifty tomorrow. Most probably a good fall will be there in next few days. Safe to buy september 7800 puts and 1/4th of equivalent calls of september as hedge. This is just based on data. Will update more after seeing the intraday charts tonight.

Your views are awaited.

 

[manojborle]

Amit please comment on what you think on this.

Union bank reached 212 today.

 

[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

Amit please comment on what you think on this.

Union bank reached 212 today.

Good We all agreed on not shorting Union Bank.

 

[amitrandive]

Latest Position

Trail Stop hit in Arvind-I.Now no open positions.

Top 12 mid-caps that returned up to 235% in a year

http://economictimes.indiatimes.com...-stock-up-on-midcaps/articleshow/40547582.cms

Atleast we were able to catch Arvind at much lower levels than suggested by and bought by most fund managers.

This is a good sign which shows that simple things still do work in the market and there is no need for complicated analysis.