#HDFC futures on short term charts - strike back pattern is a good pullback pattern gives low risk entries
(for more details on strike back pattern - check @Definedge newsletter dated 30-May-2021) There is also a twitter thread by @Prashantshah267
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some recent highs taken out - watching for a close above 774
Also daily chart on 0.25% box size https://t.co/zjVX8UIXBq
#ICICIBANK chart is interesting.
— DTBhat (@dtbhat) July 10, 2022
On Renko charts - probable multi brick breakout on higher box size (3%) above 774 (on closing basis)
On P&F charts (3% boxsize) a probable triple top buy above 774
On shorter TF closing above 774 gives a close above 45 degree TL https://t.co/2xq4xumRgz pic.twitter.com/mULPwYdkv7
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Covering one of the most unique set ups: Extended moves & Reversal plays
Time for a 🧵 to learn the above from @iManasArora
What qualifies for an extended move?
30-40% move in just 5-6 days is one example of extended move
How Manas used this info to book
The stock exploded & went up as much as 63% from my price.
— Manas Arora (@iManasArora) June 22, 2020
Closed my position entirely today!#BroTip pic.twitter.com/CRbQh3kvMM
Post that the plight of the
What an extended (away from averages) move looks like!!
— Manas Arora (@iManasArora) June 24, 2020
If you don't learn to sell into strength, be ready to give away the majority of your gains.#GLENMARK pic.twitter.com/5DsRTUaGO2
Example 2: Booking profits when the stock is extended from 10WMA
10WMA =
#HIKAL
— Manas Arora (@iManasArora) July 2, 2021
Closed remaining at 560
Reason: It is 40+% from 10wma. Super extended
Total revenue: 11R * 0.25 (size) = 2.75% on portfolio
Trade closed pic.twitter.com/YDDvhz8swT
Another hack to identify extended move in a stock:
Too many green days!
Read
When you see 15 green weeks in a row, that's the end of the move. *Extended*
— Manas Arora (@iManasArora) August 26, 2019
Simple price action analysis.#Seamecltd https://t.co/gR9xzgeb9K