breakout
- Thread starter cmlee
- Start date
Hi Karthik,
Very nice...........yep,a bull trap as you correctly point out.That breakout above the reistance level of 95 got all the bullish traders in relishing at the expected breakout.Then prices fell back to the 95 area as expected which now should have been support.The prices getting slammed down negating that whole wide range bar on the weekly on the other hand is not to expectations.The bulls are trapped as they go into hope mode and pray that prices come up so that they can exit........A Bull Trap has therefore been produced.
As far as this stock is concerned,for now it's intermed uptrend is over.It is still in along term uptrend but that bearish candle on the monthly doesn't augur too well for the next few mths.
Nice one,Karthik.........keep throwing these patterns up!!Very nice!!
Saint
Very nice...........yep,a bull trap as you correctly point out.That breakout above the reistance level of 95 got all the bullish traders in relishing at the expected breakout.Then prices fell back to the 95 area as expected which now should have been support.The prices getting slammed down negating that whole wide range bar on the weekly on the other hand is not to expectations.The bulls are trapped as they go into hope mode and pray that prices come up so that they can exit........A Bull Trap has therefore been produced.
As far as this stock is concerned,for now it's intermed uptrend is over.It is still in along term uptrend but that bearish candle on the monthly doesn't augur too well for the next few mths.
Nice one,Karthik.........keep throwing these patterns up!!Very nice!!
Saint
BREAKOUT WATCH
VARUN SHIPING
The stock brokeout nicely on the 27th and close at 63. Then came the reaction pullback with lower volumes and it dropped to 56.95. Today it is in the resolution phase and touched 61.1 with huge volume. Watch this one.
IGL
This one has just broken out. Jumped from 117 to 130 in two sessions with good increase in volume. Put this on your watch list.
Cromption greaves
This one has a nice breakout 628 to 685. now dropped back to 642. It is a wait and watch...whether it will bounce back it good volumes.
Amit, Saint any views on these.....
regards
karthik
VARUN SHIPING
The stock brokeout nicely on the 27th and close at 63. Then came the reaction pullback with lower volumes and it dropped to 56.95. Today it is in the resolution phase and touched 61.1 with huge volume. Watch this one.
IGL
This one has just broken out. Jumped from 117 to 130 in two sessions with good increase in volume. Put this on your watch list.
Cromption greaves
This one has a nice breakout 628 to 685. now dropped back to 642. It is a wait and watch...whether it will bounce back it good volumes.
Amit, Saint any views on these.....
regards
karthik
Hi Karthik...some nice picks here, friend.
Varun Shipping looks good on both weekly and daily charts. 64-65 is the point to cross, and a clear run then.
IGL...great move, and should the trend continue, 150-160 in the near to mid term.
Crompton...again the trend is strong...looking good for 690 which it has tested, and watch it near these levels.
Great finds, Karthik!
Varun Shipping looks good on both weekly and daily charts. 64-65 is the point to cross, and a clear run then.
IGL...great move, and should the trend continue, 150-160 in the near to mid term.
Crompton...again the trend is strong...looking good for 690 which it has tested, and watch it near these levels.
Great finds, Karthik!
Breakout watch
NIIT Broke out 22 points. A nice pull back would provide good entry points. Wait for confirmation of breakout.
MRO-TEK, Broke out 10 points on huge volume. Past 85 this can see higher levels
HMT Broke out 17 points on good volume. A nice pull back should provide good entry. Wait for confirmations of breakout.
MTNL - Put this one on watch list looks poised for a breakout
As usual Amit and Saint looking forward to your views
karthik
NIIT Broke out 22 points. A nice pull back would provide good entry points. Wait for confirmation of breakout.
MRO-TEK, Broke out 10 points on huge volume. Past 85 this can see higher levels
HMT Broke out 17 points on good volume. A nice pull back should provide good entry. Wait for confirmations of breakout.
MTNL - Put this one on watch list looks poised for a breakout
As usual Amit and Saint looking forward to your views
karthik
Lee
The ideal time to enter the stock after breakout will be in the resolution phase.
Please go the the following post of Amit on breakout...the best explanation I have come across on breakouts
http://www.traderji.com/showpost.php?p=18250&postcount=55
karthik
The ideal time to enter the stock after breakout will be in the resolution phase.
Please go the the following post of Amit on breakout...the best explanation I have come across on breakouts
http://www.traderji.com/showpost.php?p=18250&postcount=55
karthik
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