18th May 2022 - Trade Journal


Following Stocks will be on my watch list :

1. KOTAK MAHINDRA BANK

2. HDFC Bank


These above stocks are Nifty 50 stocks and are selected on random basis.

Find below charts Post Market opening :

1. Kotak Mahindra Bank



2. HDFC Bank




What to Expect ?

1. Breakout from either sides of Triangle,. 

2. Two green resistance lines above the triangle can be observed, which we can name as R1/R2, and those are target lines if triangle breaks out upward. If breakout happens before 12:30 pm, then aim for R2 subject to certain conditions which will be explained in further posts. If breakout happens after 12:30 pm, then aim for R1 easily.

3. We can observe 2 Red support lines below the triangle, which we can name as S1/S2, and those are target lines if triangle breaks out downward. If breakout happens before 12:30 pm, then aim for S2 subject to certain conditions. If breakout happens after 12:30 pm, then aim for S1 easily.

4. We can also observe black line inside the triangle, and that is our stop loss line. But our stop loss can change if some candlestick patterns or any other strategy is identified and same shall be explained in detail in upcoming posts.

5. Also marked previous day's high which will act as huge resistance.


I shall be posting screenshots of the stocks if the breakout happens.










Find below links of my latest posts related to technical analysis:











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