Looks very good on volumes. Moving along with sector.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA TGT: After a 10-15%+ vertical move, breakdown of 20MA on Hourly chart (on a daily close basis)
BUY GUIDANCE: Never ever buy before 3PM. I have been burnt many many times.Try to buy between 3:15 - 3:30PM, later the better.
SELL GUIDANCE: Selling in Profit: Sell earlier in the session when the prices are higher, around 11AM.
Selling at SL: Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.
Note: I reserve the right to be wrong. For educational purposes only.
Just an observation, why does it often so happens that around major technical levels, major news comes in?
In case of CONCOR too, its divestment news came at a crucial technical level.
raavigeorgian
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@Minhaj_AK, This happens by design. If there's a major news brewing but awaiting confirmation, the insiders and some smart money will keep accumulating the shares and buy all the selloffs by retailers and some such, creating support zones in the process. Once there's a confirmation, the news travels to rest and other smart money like wildfire. And that's when the breakout takes place with heavy vol.
I think similar pattern happened yesterday in MAZDA. Had been following the script for sometime, yesterday in second half it rocketed but waited till 3:15 to buy...but it was already late.
In case of CONCOR too, its divestment news came at a crucial technical level.