breakouts of welldefined resistance on weekly chart
Dear Sir/Madam
nice work you are doing.
i want you to kindly explore the possibility of probable breakout of a well defined resistance level particularly on weekly chart. is it possible? i hope you can do this.
a) Breakout case: for example: see the Ceat chart on weekly time-frame. when it broke out of 120 resistance built over a long period of time, in few months it has trebled. i have many such instances with me. this is one of the best of all strategies to build a good portfolio. there are going to be consolidation and retracements, no doubt, yet this could be one very good strategy as per my observation for many years.
b) About to breakout: i) one example is Nifty weekly chart which has a six years resistance developed at 6400. above this level, it will be quite bullish. furthermore: Finolex breakout at 65, Glaxo Pharma from 2400, NIITTech, Auro Pharma, Mind tree-- so many of them to mention.
ii) Have a look at the weekly chart of Adani Enter., if it breaks out of 290 range, which it tried to breakout at third week of December 2012, and also on 2nd week of December 2013, it can go very high. The stock is trading in a very small range for last two years.
I have many more such examples at hand which substanciate my point.
c) Yes, sometimes such a breakout can give very good upmove in a short while of time, sometimes it may take some longer time.
d) being equipped with sophisticated tools you perhaps can develop and employ an automatic alert system to catch a breakout. this will ease out pressure of manual work.
e) even 3-4 such breakouts maximum in a month (and that number comes easily sometimes), should give your site viewers handsome returns. you too can be benefited well.
f) such breakout stocks have very little impact of market volatility.
g) If you need my help, i am ready to meet you in person either in Pune, or in Mumbai on mutually convenient time and date.
waiting to hear from your end,
kind regards
Parimal.
Posted by Parimal Posted on : 23-Feb-2014
Please note that we are working to Upgrade Users Comments/ Feedback. We will be back soon.
| Following additional comments were added on this wish. | Posted by Sandy
Posted on: 14-Mar-2014 | Good findings Parimal, this feature will be really helpful. |
Posted by Admin
Posted on: 27-Feb-2014 | Thanks for this requirement. In fact from such good well thought requirements not only our viewers but we also may gain from your expertise. We have a half-baked solution with us for quite some time , I guess its time for us to make it robust and reliable to be useful to professionals like you. We will start analysis and try to get it implemented. Regarding breakout could you help us with the parameters like daily price breakout, weekly price breakout, MA breakout or something else. Please help us to prioritize .
Thanks
Site Admin |
Would you like to share your opinion on the wish.
( Intraday Analysis is on Real Time Data (Updated every 5 Mins). All Other analysis is based on End of Trade day's Value. Expected time of update is between 5 to 5.30 PM exchange time Zone)
