M&M


Following observations can be made :

1. Breakout from triangle at 9:20 so taking an entry at 955.70 with 200 qty

2. Also, price exceeded previous day's high which gives an additional confirmation for good potential upward rally.

3. Since breakout occurred before 12:30 pm, target will be our 2nd resistance line 967.30

4. Stop loss for now will be few points below the black line i.e. 944.50


Update as at 12:15:

We can observe that price is struggling to go upwards but I am going to hold my position as the price is no where near the stop loss set. 



Update as at 2:25

1. Price hit stop loss 

2. Price struggled to go upwards for a longer period of time and price even went below the day's opening price hence made an exit.

3. Loss - ( 955.70 - 944.50)*200 = 2240