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TITAN trade ideas

Titan - Trendline Breakout TradeTrendline trading is the easiest form of trading, all you need to do is to learn the art of drawing trendlines. In this post, I will tell you, how I identify trendline breakout trades The first step is to identify the structure of the stock, which is necessary for identifying the current trend in the underlying stock. Once you have identified the trend, start drawing the trendline in the direction of the trend for ex. in a downtrend structure, draw a trendline connecting high points and in an uptrend, draw a trendline connecting low points. For Conforming trendline validity, make sure that it has a minimum of 3 points of supports or resistance as the case may be. Then sit tight and wait for the trendline breakout with good volume and good momentum, and voila you have identified a breakout/Breakdown trade. One more thing I do is to keep, higher time frame trend in consideration to find high probability trades. Now, this an example of titan, where the structure of the stock on hourly is of lower lows and lower highs, so I drew trendline connecting highs and you can see the trendline had 4 resistance points, making it valid for breakout trades, plus as I said i keep higher time frame direction in consideration, which was bullish on the daily chart, hence this breakout trade is a high probability trade because it is in the direction of the daily chart. I could also see so many parameters that are loading in favour of the trade, but it will only add confusion if I explain it here, hence keeping it simple, for now, will discuss that in other trades examples...
NSE:TITAN
by manuagarwal21
4
TITAN - ascending triangle pattern - longTitan is forming ascending triangle pattern. Now almost at the lower trendline level. 2 options: 1. If takes support on trendline or around 1440, make an entry for target 1570. SL below 1400 closing. Keep tracking nifty if it doesn't support we might get SL here. 2. best scenario will be above 1600 closing, it'll give a breakout which can take it to at least 100-200 points up. Targets - 1800, 1900, 2000. Use lower trendline or 1540 as SL. Breakout and retesting the 1600 level will be the best scenario for this trade.
NSE:TITANLong
by tanmay_patel_2019
1