Spicejet has given a 11 month old trendline breakout and today has broken it's 9 month old resistance zone. The stock looks good at CMP for target 90 and 94
@tanya151181, How did price action work in this case ?
tanya151181
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@anirudhkulkarni73, the breakout was not sustained here. Very next day's red candle showed breakout failed
anirudhkulkarni73
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@tanya151181, The red candle was a testing candle right ?
tanya151181
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@anirudhkulkarni73, yes. Swing entry should only be taken if candle closes above trigger. The stock came back to retest the trendline but didn't bounce there. That's the deep stop loss which was hit. I personally booked 2% intraday and never entered positionally seeing the red candle