Amit, I have posted the the chart of Ambuja Cements with notes in my thread, but this patterns qualifies as Low Risk High Probability breakout, hence posting here as well.
Thanks for the image.I think around mid February the following listed scrips made similar breakouts and were good Buys , with a very low risk.
(Feel free to add to the list)
For Longs
ABB,ACC,AmbujaCem,AshokLeyland,AsianPaints,AxisBank,BajajAuto,BankBaroda,BankIndia,BankNifty,Bata,BEL,Bhartiartl,Bhel,Bosch,BPCL,CanBank,CoalIndia,Concor,CrompGreav,CumminsInd,DLF,Exide,HDFC,HDFCBank,HDIL,HeroHonda,Hindalco,HindUnilever,IciciBank,IDBI,IDFC,IndusIndBank,ITC,JIndalStel,JpAssociat,JswSteel,Kotak Bank,LicHsgFin,LT,M&M,Maruti,McDowell,Nifty,ONGC,OrientBank,PFC,PNB,POwerGrid,Reliance,Relinfra,SBIN,Siemens,Titan,Ultrachemco,UnionBank,YesBank
For Shorts
Divislabs,DrReddy,HclTech,Infy,Sunpharma,
The reason why I have given such a long list that we can observe that most of the stocks have followed the pattern as indicated by Somatung in his post.
http://www.traderji.com/technical-a...ch-high-probability-breakouts.html#post951452
This is an ending diagonal triangle pattern which is seen in many of the scrips listed above or also similar to a falling wedge pattern.
So we need to analyse these kinds of breakouts and be ready for them next time around.