Hey Viewers,
I am going to share few stocks which I will be watching this week. Hope this helps someone to take good position and profit.
The stock we are referring here is HDFCLIFE which has broken a key resistance with good volume on daily chart.
To take position I will prefer 1 hour chart as illustrated below. I am expecting the stock to retrace as shown below and then I would prefer to enter once it takes support on the previous resistance around 510 - 515
If it open gap up on Monday, I will wait for it to retrace and then enter by following basic price action strategy on 5 min candle. Do comment if you want to understand how to find the price action on 5 minutes candle, I will create a post for on this topic too.
If it gaps down, I am expecting it to take support at CMP 510 and then based on price action I will enter in this trade.
Symbol: HDFCLIFE
Buying Range: 510 - 515
StopLoss: 500
Target: 536- 540 within next week
Market is volatile in last few weeks as expected and can behave wierdly at times. Anyways, I trade with stoploss mandatory in both positional and intraday trades.
Do not forget to add this blog in favorite list and stay tuned as I will be sharing lots such of posts and also multibagger stock details.
Hope you and your family stay safe in this pandemic situation. Take Care..
Disclaimer: The article posted on my blog are only for educational purpose and should not be taken as investment advice.Any trading done based on the ideas provided on this blog are at your own risk. The blog author is not responsible for your investment or trades.
I am going to share few stocks which I will be watching this week. Hope this helps someone to take good position and profit.
The stock we are referring here is HDFCLIFE which has broken a key resistance with good volume on daily chart.
To take position I will prefer 1 hour chart as illustrated below. I am expecting the stock to retrace as shown below and then I would prefer to enter once it takes support on the previous resistance around 510 - 515
If it open gap up on Monday, I will wait for it to retrace and then enter by following basic price action strategy on 5 min candle. Do comment if you want to understand how to find the price action on 5 minutes candle, I will create a post for on this topic too.
If it gaps down, I am expecting it to take support at CMP 510 and then based on price action I will enter in this trade.
Symbol: HDFCLIFE
Buying Range: 510 - 515
StopLoss: 500
Target: 536- 540 within next week
Market is volatile in last few weeks as expected and can behave wierdly at times. Anyways, I trade with stoploss mandatory in both positional and intraday trades.
Do not forget to add this blog in favorite list and stay tuned as I will be sharing lots such of posts and also multibagger stock details.
Hope you and your family stay safe in this pandemic situation. Take Care..
Disclaimer: The article posted on my blog are only for educational purpose and should not be taken as investment advice.Any trading done based on the ideas provided on this blog are at your own risk. The blog author is not responsible for your investment or trades.
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