Nifty Trading plan for tomorrow. Do ask questions and let me know if it helps everyone learn simple trendlines. I know there are too many lines, but observe the price action at all lines
Good opportunities on both sides were presented on the plate today! but one had to be patient enough.
Tomorrow's plan
- The red rectangle is the danger zone (confluence of multiple trendlines), any break below go short.
- Any sign of support above the red rectangle, go long
Nifty - go long with stop 10920.
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- 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)