PAGEIND trade ideas
PAGE INDUSTRIES BULLISH DIVERGENCE CONFIRMEDIn this study, I have analused Page Industries on weekly time frame. If you scroll back, I identified bullish divergence earlier, which surged the stock by more than 60%. Now again, after rise in cotton prices due to Ukraine war and rising inflation, Page industries had corrected.
Now, I have proved bullish reversal as can be seen clearly. Buy levels have been mentioned in chart. Hold for 1st safe target of 44k to 46k.
PAGEIND: An Option Buying TradePAGEIND chart looks amazing. A rejection from bottom which shows there is huge demand.
A proper consolidation in Daily Timeframe, and now ready to blast off.
Why Blast?
The two Pinbar candles shows demand from bottom, and which will react on chart in coming days.
One can keep this stock in watchlist.
Page Industries after a sudden gap downAs shown in the chart drawing, I was assuming a support zone and was curious to watch reaction from the support zone.
But the script, had something else for me, by gapping down so severely.
But after gap down, it tried not to close below the last possible support, and I want to watch this further in near future.
Will be in my radar, will explain more once, I get more clues.
[Basket] Page India Buy IdeaKeep Strict Stop Loss. What was resistance is now support. Wait for the trigger. Do not buy till it triggers.
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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Page Industry may break out of consolidation.Page industry has been traing in a zone since end of January.
If the stock closed above the recangular box, can go upto the resistance level of 44850 and can test new ATH.
The stock has been bullish on a weekly time frame too.
One can wait for the weekly closing or for a daily candle to close above the box.
Page Industries Breakout TradeThe stock has broken out and took support at the previously upper trendline. Trade is supported by brokerage calls and Supports Nearby.
The stock has previously broken out with good volumes and retested the upper trendline, the point of entry.
Risk Reward Ratio - 1:1.
SL is placed below multiple major support zones, 200 EMA and previously upper Trendline. Target is placed near the all-time high.
Note: Earnings will be disclosed during the trade duration. If results are not up to expectations or the trendline and 200 ema are broken after results, it may be a better option to exit.