Long trade in HDFC AMC, Breakout with good volumes

HDFCAMC

Good breakout above resistance zone with good volumes. Has also broken above R1 today too. Trading above all key MAs (20,50,100,200)

Keeping a target at R3, which is also another potential supply zone, with an SL below the breakout candle's low gives a 1:1 RR trade if taken at current rates.

Any entry on pullbacks will be even better in terms of RR.

Comment:

Given a pullback, very good RR now. Very low volumes on pullback as well. Will have to see how it closes by the end of the day.

Comment:

Has bounced from the breakout zone, lets see how it unfolds now

Comment:

Took support at R1, and now looking to make a new high. Lets see how it plays out

Comment:

Consolidating well above the breakout zone.

Breakout above R2 would quickly see R3 being traced as well

Keep track!

Comment:

Will have to take the stop here it seems
Lets see how it closes