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JINDAL STEEL & POWER LTDJINDAL STEEL & POWER LTDJINDAL STEEL & POWER LTD

JINDAL STEEL & POWER LTD

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JINDALSTEL trade ideas

JINDALSTEELNSE:JINDALSTEL Please note that we are not a SEBI Registered Investor Adviser/PMS/ Broking House. All the contents over here are for educational purposes only and are not investment advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures and options. You are also requested to apply your prudence and consult your advisers in case you choose to act on any such content available as WE claims no responsibilities for any of your actions or any outcome of such action
NSE:JINDALSTELLong
by TrAder_3101_
How to identify a successful Breakout?Underlying logic: 1. The price gets rejected from a level repeatedly and forms a major resistance. 2. There is an initial test of supply which absorbs some pending orders 3. The price finds a bottom and some sort of accumulation happens. 4. After the accumulation, the price tries to move back up to retest the resistance level. 5. A bull trap is confirmed when the price pierces through the resistance level but there is no follow-up move. 6. But after every test of the supply, it becomes weaker and weaker due to absorption of pending orders(already discussed in older posts) 7. The price finds a bottom again and then another phase of accumulation starts 8. Finally, the price moves up and tries to breakout above the resistance. This time the price manages to break out since the residual supply gets absorbed and it gives a retest. 9. If the breakout is successful, it will be followed by a bullish move and the volume will expand. 10. The retailers buy after the breakout while the institutions buy during the accumulation phase. Exhibit 1: Clear breakout and clear retest Exhibit 2: Clear breakout with NO retest of a horizontal level Exhibit 3: Breakout with consolidation at the resistance level Sometimes, the price may start consolidating at the resistance level. This is a positive sign because the price is absorbing all the residual supply and is trying to find the equilibrium. There can be many more different variations, but the underlying concepts remain the same. You can read and revise this post until you master the concepts. I hope you find this post useful. Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk. Happy learning. Cheers! @johntradingwick
NSE:JINDALSTELEducation
by johntradingwick
2
Jindal Steel { 15 M Short }Broke the support & Formed Short if break ! Note :- Entry - At the break of mentioned candle's low/high Stop Loss - In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use smaller tf SL & trade in 15M or 30M tf which I'll mention. Vice Versa for long trades Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa Use of PSAR indicator as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change ( PSAR : Parabolic Stop n reverse ) You can use any one of above mentioned or your own way to manage risk Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned. Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
NSE:JINDALSTELShort
by ShivamMendhare