My trade setups

[Anurag N]

Update on this position-

ICICIBANK is now breaking multiple swing point on daily time frame. I am expecting it to go above my initially mentioned target of 1100.
I am also raising my stop to 1017.40. Price going below this will nullify all the steam of the breakout.

View attachment 50438

Update on this position-

After lurking around in the swing point area (mentioned in my last post) for few days, today this finally broke-out.

Due to how the overall markets surged today and the kind of volume this had, I was being a little cautious on this position. As this was almost near my target of 1100, I didn't want to expose the whole position to risk. Just to be safe I closed 50% of my position today @1086.50.

 

[Mani_Mahajan03]

Zerodha

Are you facing any issues in zerodha?

 

[Anurag N]

Are you facing any issues in zerodha?

nothing as such. What issues are you facing?

 

[Anurag N]

Next stock in my portfolio is ASTRAMICRO. Here is my analysis for this-

1. This had a very strong bullish long term rally since early 2023. This gives a confidence that any retrace near good support area should be bought.

2. This retrace came last month after a strong rally. After breaking out of the daily range, price was coming for a retest. This retest was happening on 4 swing point highs. Multiple swing point retest increases the chances of regeneration as well. Also, this was supported nicely by heavy volume anchor bars which reduces the risk of drawdowns.

I took a position @620. This was the point where all the swing points were getting tested together. I have kept the initial target at its high for now, as that is the point where heavy selling has happened. So I am pretty sure once price reaches there we well be seeing some selling happening again. I have kept my stop around 575.90 as that would be the place where all the swing point test would have been failed and the major anchor bars would have been penetrated.

On 19th Feb, the price went very near my target and had drawdowns post that. I was unable to sell my position that time. but I believe it should go to that level at least once more if we see some momentum in this stock.

 

[Anurag N]

There are few stocks which are decent buy mostly because it is lying at a major support point. This makes the reward/risk ratio very lucrative. ASTRAZEN was one such stock that I added in my portfolio.

1. I wouldn't be buying anything which is just lying at support, as the prices are meant to break the S-R levels all the time. But it is a great opportunity when the higher time frame is very strong bullish. That increases the chances of holding the support. The long term view is pretty bullish for this stock, almost doubling in the last 1 year.

Please note that this had already done a pretty decent retrace of 15% from its top. With a stock so strong, it is very unlikely that the price will further slip down immediately without a rebound. At worst it might go into sideways play.

2. The anchor this made on the drop was pretty strong with the multiple high volume bars.

3. I bought this when it was doing a retest on the daily chart. It increased the confidence that the price will regenerate from there.

Unfortunately, after I bought this, the price failed the daily retest area and started penetrating below the swing point low. Although, it has not gone much deeper and is still supported by the zone, it doesn't look as lucrative as it was earlier. I am waiting for a bounce on this while the price is roaming around the support zone. I could have closed this position but it doesn't make much sense as the risk here is far too less as compared to the reward once it gets a bounce. I'll make an update post once I make any move on this.

 

[Mani_Mahajan03]

nothing as such. What issues are you facing?

I just asked normally...I'm not using this platform.

 

[Anurag N]

I have been getting overwhelming response on the setups I share on this thread. I am more than happy to clarify everyone's doubts, whatever questions you guys have or delve deeper into discussing these setups. So please feel free to reach out and hit whatever thoughts you have.

I have quite a few positions in my portfolio that I haven't shared here yet, and I'm falling behind. Therefore, I've decided to share another setup today, even though it's a market holiday. Today I'll share my setup for BOMDYEING-

1. After haveing very strong bullish rally on long-term, this started consolidating and made a well defined range on weekly chart.

This range is very well supported by multiple high vol bars. In January, this broke out of the range (breaking two swing point highs) and post that stared retesting. The tests were happening with very low volume which gave a confidence that it could be a simple consolidation post breakout and price will regenerate from here.

3. I got a good entry opportunity on the short-term time frame where it was doing another retest, followed by strong support below.

It is quite a ride with this stock as this had been very volatile along with the market correction of smallcaps. But even with all the volatility, this did not go out of its permissible range. After so many big moves both up and down, the price is still lying somewhere near my entry point only. I am pretty hopeful with this stock will be going for a good rally in the upcoming weeks.

 

[Anurag N]

Update on this position-

As I mentioned in the reference post, I wanted to book some profit once the price reaches 640 mark. Today this stock got a good spike and gave an opportunity to book some profits.
I had already closed 30% of my position earlier (mentioned in the reference post). Today I closed 20% @640 and another 20% @650.
I will keep the remaining 30% for now to see if I can capture some more dough here based on its momentum. Otherwise, I'll close it out once it shows some kind of a drawdown.

Update on this position-

As I mentioned earlier, I kept the remaining 30% of my SONACOMS position for some momentum opportunity. Got a nice push and now it feels like it will get pressure from the high point seller at this stage. I sold my remaining position in this today @703.

 

[Anurag N]

AMBER

Trade Status: To be filled

Trade Type: Long

Success Probability: 50%

Reward-to-Risk Ratio: 1.44

Time Frame: Weekly

Entry Price: 3222.70

Target Price: 4075

Stop Price: 2629.90

Long term:

Intermediate term:

Short term:

WHY THIS TRADE

Retesting on long and intermediate term. Price heavily supported.


ENTRY REASONING

Big hammer reversal on daily near the long term support


TARGET REASONING

First line of resistance. 2nd target at the highs


STOP REASONING

Failing the weekly SPH and all the support

 

[Anurag N]

AMBER

Trade Status: To be filled

Trade Type: Long

Success Probability: 50%

Reward-to-Risk Ratio: 1.44

Time Frame: Weekly

Entry Price: 3222.70

Target Price: 4075

Stop Price: 2629.90

Long term:
View attachment 50577

Intermediate term:
View attachment 50578

Short term:
View attachment 50579

WHY THIS TRADE

Retesting on long and intermediate term. Price heavily supported.


ENTRY REASONING

Big hammer reversal on daily near the long term support


TARGET REASONING

First line of resistance. 2nd target at the highs


STOP REASONING

Failing the weekly SPH and all the support

Update on this position-

Wasn't able to get an entry in this. Price fell short by some half a percent to my entry order (sad reality of trading :0). This went to surge 5% today. No point in making a premium entry now as the reward-risk ratio would not be feasible for me.