The above shown chart is of GENSOL in Daily Time Frame
This script has been making Ascending Triangular Pattern, since the day of it's IPO listing.
The lower trend line of this Pattern, has 4 -5 support points. The upper trend line, similarly, has 4 - 5 resistance points.
Now, complementary to this .. If you look at the Volume Bars of this script. You will find Volume Contraction Pattern. You will notice, how .. the Volume bars are keep getting low and low in size, and the Price of the script somewhat stays in the same range. This is also known as " Tightness "
Volume Contraction Pattern, simply means dryness of volume.
So, The Bullet points I mentioned above, are the reason why I chose this script.
Now, Let's plant our Paper Trade.
Entry - 870 Price Level, seems to be good for the entry point of view.
Stop Loss - For this, you must be seeing the "green" and "red" line near the lower trend line. These are thee stop losses for 2 kind of people. The "green" line should be stop loss for low risk takers, and the "red" line should be the stop loss for high risk takers.
Exit - This particularly, I leave to individual .. without saying anything. The reason you must be knowing if you have been in markets for some time.
Disclaimer : This is only a Paper Trade Idea, which I'm recommending personally. It will help you developing your trading skills.
Thank You.
Trade active
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This script is in Upper Circuit.
Trade active
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Today morning, there was a little bit of profit booking. If you look at it in 15 min Timeframe, you will see, the first candle itself was a huge red one .. after that the price reverses from 950 Rs level, followed by series of green candles. And in the end, It closed with Upper Circuit again.
Just like others, I'm expecting a good move .. but if I saw some red candle again, then I'll lower my expectations. Let's see what will happen tomorrow.
did not want to hold more.
This trade went well, But could have been more.