TECH M



Following observations can be made in the above chart:

1. Breakout from triangle at 11:35 so took an entry with 220 qty at 1117.60

2. Also broke previous day's high which can be observed in the above chart

3. Also, price broke today's high which is an indication that there could be potential uptrend

4. Based on our strategy though there is different target, I am combining my strategy with resistance line and hence our target us 1149

5. Stop loss is just few points below the previous day's high where there will be huge number of buyers i,e. at 1085


Update at 12:40:


Price finally broke the range where in it was struck for quite sometime. We can hold on to our position unless some strong pattern or signal appears otherwise.


Update at 1:05:


Irrespective of numerous tries by bears, it is still not able to engulf the bullish candle which broke out of triangle, confirming our position is correct. If engulfs, then it should be considered as signal of reversal of trend


Update at 2:25:



Changing my stop loss to 1116 as there is strong support from buyers just few points above and if price breaks that zone than it is likely that there is trend reversal. Also, because of the limited period from now, it is important to change the stop loss to limit the losses.

Also, changing the target to 1st resistance line or exit when the time is 3:10 whichever is earlier.


Update at 3:10



1. Had to exit because the time is up at 1123.05

2. Profit - (1123.05 - 1117.6) * 220 = 1199