Intraday Stocks for next day

[timepass]

Unable to load the chart at present, but is a bigger picture (12-18 months) showing an inverse cup and handle ?

Possible inverse cup and handle in Prism Johnson

 

[NogreedOnlyfear]

View attachment 48855

Possible inverse cup and handle in Prism Johnson

Yes there is that possibility on Daily TF. We're simply looking at the shorter TF (30 mins)

 

[NogreedOnlyfear]

We took buy side liquidity and getting out of demand zone. This particular figure has some characteristics. That we will discuss later , or it will make us more confusing.... Now we need a higher close of price to validate our analysis.

 

[NogreedOnlyfear]

This is the updated chart with zones marked out.

Due to illiquidity in the stock , shorter TFs are harder to track. but they will respect and respond to important zones

 

[NogreedOnlyfear]

We can still see , how market dipped down from the minor demand zone to make more sell side liquidity, and reversed back.
100-95 is major demand zone as marked in the figure. There could be pending orders , order slots either of them or both of it. What we need to see is, how good the stock is respecting and responding to the zones , we found out. We are still in the game of charts. we just have to wait patiently till the price sustain above its major structure.

 

[NogreedOnlyfear]

FINALLY , A BIG BREAKOUT
Remember , this is all live chart. just to insist the fact that , we are diving into the second segment called 'Trading what you see'.

 

[NogreedOnlyfear]

We have prepared Titan under radar for tomorrow. What we see on the 5 minute charts?

Stock is clearly in a downtrend. And there is a breakout on the trendline. We are not sure , if this is a valid breakout or not. Anyways we are not looking to buy Titan tomorrow. We will look for shorting opportunities , as the trend suggests it.

Where and when can we sell??
Well, we have two blocks on the charts. Yellow One is Smart Money Block.
And the Red one is Volatility Reach .
We want to see stock giving negativity in the SMB ( Smart Money Block ) , then only we can enter in the short side trade... Keeping StopLoss away from the VR ( Volatility Reach).
This is the general criteria. But there is more to it. Since it's good to start from a strong point , I gave the brief idea.

If there is no negativity in the SMB , then we assume that stock don't want to respect levels today. News , Rumours, Bulk orders anything can affect a stock's movement.We can leave it then. That's plan B.

You must understand the beauty and flaw of having only one stock under radar.
Beauty is that, we are not pressured. We can focus on one thing only.
Flaw is that , if the setup is invalid ... You are left with a non trading day.
So , finally it comes to your trading style. How many trades you want to take a day?. How many stocks you can track ? How focused and strict can you be on multiple stocks ?.
I would say start slow and scale it up for a beginner.

 

[NogreedOnlyfear]

Figure 1.
We are tapping into SMB.
We have VR above for protection

We have fulfilled our criteria from SMB with SL above VR

 

[NogreedOnlyfear]

Excellent reaction from SMB

 

[NogreedOnlyfear]

This is how we find out SMB . We need price stuck in a zone and a breakout. We correlate the breakout with overall trend of the stock.

You can clearly see in today's trade , we have a reasonable resistance level in smaller TF and a breakout happened and when we correlate it with higher TF trend , breakout turns out to be false.

When we get a false breakout condition, we can assume the whole upper range is SMB.
We can look for shorting opurtunities there with StopLoss above the VR.
We can use ATR to determine the volatility of said stock and use those levels to clearly point out VR.

When price retests the SMB , we can make our trade as per our analysis. We can always opt for the last support pivot as our primary target.

This is what we have seen in our Titan trade today. Let cross check it with your chart and let me know , if this clear .