#HDFCAMC

Symmetrical triangle breakout in weekly chart.. next resistance is 3240-50, once this level is taken out might trigger 3780 and 5000 levels.

#lauruslabs

Breakout > 630

I have earlier shared some setups/strategies for Intraday. One of them was ORB (opening range breakout) setup.. but I still get DM about this. So here's a thread about how to find ORB stocks: (1/12)

Stocks that are in consolidation or on the verge of a breakout and has already given a breakout from consolidation - both category stocks should be in your watchlist.

Now the question is.. with so many stocks around, how one must filter and check? (2/12)

I mostly trade in F&O stocks in Intraday - it has 188 stocks after new addition and can be filtered as per sector rotation.
Find the sector or theme with good recent performance and keep its stocks in watchlist. I keep an alert for breakout price when I see a good chart. (3/12)

Another way to filter stocks is to keep an eye on the new additions in the F&O and the stocks that are in news.

Not every stock gives a move of 7-8%. Look for stock that move 7-8% in one go when they give a breakout (Stocks unlike ITC that moves once in a year). (4/12)

There are a few stocks that are tailor made for ORB. And those stocks should be in your watchlist.
IRCTC, Mindtree, Bajaj Twins, IEX, TataElxsi, Naukri, Coforge are some great examples. Rest you can observe and add.
Recent examples 👇(5/12)

How to find out the expected targets and what should be the exit criteria when you enter a trade - 🧵

Possible ways to find out the target:

Check if any patterns forming - it gets quite easy to figure out the targets that way. (1/15)

Let's say cup and handle. Our first target in this case will be the height of the handle and final target will be height of the whole cup. It's the same with H&S. First target will be the height of the shoulder and final will be the height of the head. (2/15)

In triangles, the targets will be height of the whole triangle.

Sometimes, after hitting the first target.. stock starts consolidating or take a retest of the breakout. On some occasions, stock gives one sided move non-stop.. without any pullback. (3/15)

A lot depends on the stock behaviour too. If a particular Index gave a breakout, then too stock gives final target without pullback.

Also, if stock gives weekly breakout and market is trending during that time.. even then it gives a one sided move. (4/15)

Recently, we've seen many such stocks -- Kotak Bank, TataMotors, TataPower.

Other helpful thing I learned from @Traderknight007 about exit criteria is using volume expansion and DMA/EMA. I began using it and benefitted. This is recently observed in TCS, DLF & many others. (5/15)

HDFCAMC - #HDFCAMC chart

#HDFCAMC [3093]
REASONS:
1⃣ Flag&Pole BO of 6 months consolidation
2⃣ Stock is building up near 0.618 fibo level of total fall from 2020

Target - 4350
SL - 2940

@chartmojo @piyushchaudhry @SuccessIsMyJob @Abhishekkar_ @kach0289 @TechCharts @koolvicky @BissaGauravB

Mega Thread: Jan-Jun 2021

26 Weeks, 26 Ideas, 26 Tweets

Days Gone 180. Efforts 360

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HDFC AMC (W)

Setup- A potential series of 3rd wave unfolding

1- Multiple Subdivision=Long way
2- Series of 3rd wave is in progress
3- Positive Structure at play

Keep on Radar.
Looking good on EW!