Aditya Birla Nuvo is looking bullish after the recent breakout above the resistance of the range. we see solid buying opportunity int he stock for short term gains. A pullback must towards the support zone (previous resistance) must be the area of accumulating this stock. So buy ABIRLANUVO in 1020 to 970 range for short term target of 1135. Look for weekly chart below: Stochastic indicator is ... [Continue Reading]
Methods of Taking entries in stock: Breakout trading vs Pullback trading
There has always been debate on the method of taking entries on stock. Some traders say they trade when breakout occurs, some say they take entries when stock gives pullback or rallies against the trend. Both of these methods works, but it depends on the stock's beta value. If stock is high beta stock then I will take entries on breakout, as high beta stocks will not give me pullback to for some ... [Continue Reading]