Nifty intraday view - Until the trendline on 5 mins chart that has been in formation since 12th December holds and we don't break 12020, new highs will be hit soon. #Nifty#trendlines#trading#5minschart
Tip - sometimes the trendlines from Gaps can also be drawn :)
Nifty - Descending triangle of 40 points - when it broke down went down approx 40-50 points and reversed. This is pure hindsight analysis for learning purposes. Now, when to go long? Only when the top downward sloping trendline is broken. #Nifty#trendlines#trading#5minschart
- If everyone is talking about it on social media and it has already broken out
- If a stock has moved up already for the last few days
- If a stock is up more than 10% already from breakout zone
- If your SL is deep
2⃣ Enter only on breakout & nowhere else if you're trading breakouts...
Buy only…
- above breakout zones (no entry in no-man land)
- above a key resistance zone after a stock consolidates
- 1-2% above resistance zone
- Identify entry points(set alerts on TV/set GTT in zerodha)