BEL

Entry at 9:25


`1. Breakout from triangle at 9:25 so taking an entry at the price 247.85 with 1000 qty

2. Also, price is above the previous day's high , so there could be potential uptrend.

3. Target is 2nd resistance line i.e. 250.40

4. Stop loss is few points below the black line inside the triangle i.e. 244.75


Update at 9:55


1. Stop loss hit so had to exit

2. Loss - (244.75 - 247.85 ) * 1000 = (3100)


Update at 10:05



1. Taking a re-entry as price broke out of triangle towards down side, at the price 244.05 with 1000 qty

2. Target is 2nd support line i.e. 241.55

3. Stop loss is few points above the black line inside the triangle i.e. 247    



Update at 11:00


If the price enters triangle again, then I am going to exit as we can witness strong resistance by buyers.


Update at 1:55


We can observe that there is strong support zone as plotted in the above chart. Price needs to go below this zone to continue with our position. If there is strong rejection again, then it should be considered as reversal trend signal and exit.


Update at 2:10


1. A good bullish candle with healthy volume formed which could be the signal of reversal of trend.

2. Hence, set an upper limit which can be observed above, if the price crosses and closes above this limit, then I am going to exit

Update at 2:15


1. Price went above the upper limit set so had to exit at the price 244

2. Profit = ( 244.05 - 244 ) * 1000 = 50