Dhanuka ,1DPattern Is looking very good for Breakout , Nifty is also Supporting also all the stocks for Bullish Breakouts , This Is best time to enter in breakout stocks .
Consider Only those stocks that seems Technically strong with Good Volume Breakouts and Strong close .
Risk According to your capacity and aim for 40% and Risk upto 4-5% for this trade , Mainly you have to give the Room to Fluctuate the Stock , according to this flucations you have to decide your Stop loss .
Take Only A+ Setups , so that your Accuracy Should Be High and Returns also High
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DHANUKA
DHANUKA - Rounding bottom + Bull Flag/Pennant - SwingThis analysis is done purely on basis of price action and chart patterns.
The analysis is done on Daily TF hence it can take couple of days to couple of weeks to reach the target.
Logic, Entry range, SL and Target is shown in image itself.
Reasons for stock selection & going long in this stock - Debt free company, Good performance, posted highest revenue/profit in Sept Quarter and Q3 is also expected to be good.
(Buy on rumors & sell on news strategy)
This analysis is for study purpose. Traders must do their own study before entering into any trade. Traders should trade with their own risk capacity and money management.
Feel Free to comment for any query or suggestion regarding this stock or Price Action Analysis
Check below another idea of BALMLAWRIE for another example of Rounding Bottom Pattern