Technical view by Nooresh

Breakouts but no Follow up moves !!!

The last couple of weeks might have been relaxation time for the market-men and same was the case with specific stocks who did show some strength but started relaxing in the festive mood.
Saw initial momentum which fizzled out. This implies increase in the no of trailing stoploss hits. So all in all lots of potential but no outcome :)
Lets c a few charts and what happened. This also makes one sit up and note why Stoplosses are so important in trading to save money as well as your brains :) !!
The comments in red are afterthoughts !

Still the scenario remains the same. Breakouts or Breakdowns are not seeing follow up confirmations making it difficult to trade. So continue to be on the lighter side of the trade or be ready to take small choppy trades in the range.
Best Regards,

Article by Nooresh Merani

Nooresh has written 2531 articles.

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