Breakout Trading NSE: October 2018

Wednesday, October 31, 2018

Price Action Trading TataGlobal

Today i traded Tataglobal on Short side.

The stocks result was on 30.10.2018 so selected for trading.

The stocked crossed below opening range in few minute after open, so i shorted it and covered at S/R Line

The trade was very fast and made good profit.

Important Points

1. Stock Selection = After Result day

2. Entry = Below Opening Range

3. Exit = At S/R Line

Check chart below for details of the trade. entry and exit points marked.

Price Action Trading Concor

Today i traded Concor on both sides i.e. sale and buy.

The market opened with gapup so i considered buy side for Concor.

As soon as it crossed the opening range buy order is placed considering the target as next support resistance line.

Buy trade successful with good profit. i exited at the support line level and waited for some time.

the stock reversed from S/R Line. so i considered it for short selling.

as soon as it crossed below opening range i shorted it and booked profit at below S/R Line.

50% kept for running and booked at below S/R Line.

Important Points

1. Stock Selection = Result on 30.10.2018 so selected.

2. Entry = Above Opening Range

3. Exit = At S/R Line

Check out the charts for clear understanding.

Tuesday, October 30, 2018

LICHSGFIN Short gone wrong

I traded Lichsgfin on short side today but it went wrong with loss.

I got one more opportunity to short it again but out of fear i did not take the trade.

Its not enough to select a great stock its hard to manage during the trade.

Important Points

1. Stock Selection = Result was on 29.10.2019 so we can see action today.

2. Entry Point = Below Opening Range

3. Exit Point = At next Support Level

Stock reached to below support level in afternoon session. But without me in trade.

Lesson Learned =

Always wait for market to come to you. Dont run after market. And take action when the market is in your favor.

checkout the chart.

Chennai Petro Short Trade

Today i shorted Chennpetro as you can see in chart.
The trade was successful with +4 Points.
I used opening range as a reference and waited till price show clear sign on breakdown.

I have drawn the Support and resistance lines for ref. The stock remain in the marked range for the whole day.
i wanted to short it again during afternoon session but i missed it.

check out the chart for my entry and exit.

Important Points

1. Stock Selection = I selected chennpetro as its result was on 29.10.2018 so we can see some action in stock today.

2. Entry Point = Below Opening Range i.e. First 1 Min candle range.

3. Exit Point = At next support level marked.