The stock had been making a base for 4 years out of five. It is only during the last year that the volume activity picked up. It made another two bases in the last 6mths. and finally we see a decisive breakout on a massive volume bar. Results of IT sector have started coming in, indicating positive outlook in the 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 20DMA (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.
DISCLAIMER: I am not a SEBI registered analyst. Please consult your financial advisor before investing.
ravi bro , see its monthly chart on zerodha or different charting website.. u will be amazed.. do see... on trading view data is incomplete of this stock
But if the stock breaks out, it rarely retraces much after 3 pm. What should we do in such a scenario.
raavigeorgian
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@contentApple4814, Interesting question. There are more fake breakouts than real ones these days. If the price sustains till 3.15pm, it means smart money is holding it up for the day and will most likely carry it home for the next day, and you will likely see the stock moving the next day too. On the other hand, if the price breaks out and drops back by 3pm, next day is likely to be a down day too.
light_kumar
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@raavigeorgian, good answer bro.. but what if it gives breakout and goes for upper circuit 20% same day... like even this stock did the same 2 days ago ?? do answer.. thanks for ur service.. much appreciated..
raavigeorgian
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@light_kumar, In that case, you could buy 20-30% of your desired allocation in the morning. If it goes up by the end of the day, you buy more. If it drops, you don't lose much.