Case Study 04- #SIYSIL
The (SIYARAM SILK MILLS LTD) Trade📈
How I caught this 52% one way move in this volatile market🔥
A Mega Thread🧵
The (SIYARAM SILK MILLS LTD) Trade📈
How I caught this 52% one way move in this volatile market🔥
A Mega Thread🧵
Before I Begin,
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t.me
For a deeper analysis of the setups and posts I share, join our community where we provide real-time insights and additional educational content like this🔽
t.me
The Reasons behind selecting this stock to trade and how I executed it flawlessly are mentioned below:
This stock came on my radar as the price was forming a "Symmetrical Triangle Pattern" on the Weekly Time Frame which can be observed on the chart.
Notice some of the key points of this setup here:
• The price after bouncing from the support levels, retested the resistance but failed to break out
of it multiple times.
• Although the price failed to give a breakout, we can see that the range in which the price was traveling was getting narrower with a contraction pattern.
• As the price was consolidating on the right hand side of the structure we can see that it had formed a higher low and was consolidating above that range.
• The volumes were also significantly higher in that range which peaked my interest as this volume activity was also near the resistance level/breakout level.
This meant that if the price managed to break out of that range it could lead to a good up move from there as the consolidation range was very big.
This stock came on my radar as the price was forming a "Symmetrical Triangle Pattern" on the Weekly Time Frame which can be observed on the chart.
Notice some of the key points of this setup here:
• The price after bouncing from the support levels, retested the resistance but failed to break out
of it multiple times.
• Although the price failed to give a breakout, we can see that the range in which the price was traveling was getting narrower with a contraction pattern.
• As the price was consolidating on the right hand side of the structure we can see that it had formed a higher low and was consolidating above that range.
• The volumes were also significantly higher in that range which peaked my interest as this volume activity was also near the resistance level/breakout level.
This meant that if the price managed to break out of that range it could lead to a good up move from there as the consolidation range was very big.
Notice some of the key points in this structure here:
• Each low is being protected here without a significant breakdown. This meant that the buying sentiment was strong and each dip was being utilized to accumulate more.
• The candlestick pattern also represented the same sentiment with rejection from the lows.
• The accumulation of volume as the price increased was higher than the average, indicating that both the sentiment and price structure were shifting bullish.
All this pointed in the direction that the price was gearing up for a good up move from there.
• Each low is being protected here without a significant breakdown. This meant that the buying sentiment was strong and each dip was being utilized to accumulate more.
• The candlestick pattern also represented the same sentiment with rejection from the lows.
• The accumulation of volume as the price increased was higher than the average, indicating that both the sentiment and price structure were shifting bullish.
All this pointed in the direction that the price was gearing up for a good up move from there.
In a smaller time frame (15 Mins), we can clearly see that the price after a gap-up had formed a base with a 3T VCP pattern where each low was being protected as the price moved higher.
We can also see the rise in volumes as the price gave a strong breakout of the base structure. This meant that there was a strong interest in the price as the buyers were aggressively pushing the price higher.
The price after doing a minor retracement back into the structure as seen in the chart, opened with a gap-up the next day and crossed the Previous Day's High with a strong candle paired with massive volumes.
This triggered my entry at 576.
We can also see the rise in volumes as the price gave a strong breakout of the base structure. This meant that there was a strong interest in the price as the buyers were aggressively pushing the price higher.
The price after doing a minor retracement back into the structure as seen in the chart, opened with a gap-up the next day and crossed the Previous Day's High with a strong candle paired with massive volumes.
This triggered my entry at 576.
After the breakout, the price never retraced back and went into another orbit and made a high of around 732 before consolidating and making a symmetrical triangle pattern with higher lows while contracting in a narrow range.
The volume footprint were also exceptionally high as the price went up.
This provided a good opportunity to pyramid up the initial position as the price gave a strong breakout of the "Symmetrical Triangle Pattern" with massive volumes.
The volume footprint were also exceptionally high as the price went up.
This provided a good opportunity to pyramid up the initial position as the price gave a strong breakout of the "Symmetrical Triangle Pattern" with massive volumes.
Following the breakout, the price went even higher with massive volumes before consolidating in a flat base pattern.
The declining volumes during the consolidation phase suggested that the supply was being quickly absorbed by the buyers.
This meant that the price had more steam to move up.
This consolidation also provided another good opportunity to pyramid up as the price gave a strong breakout of the consolidation base with massive volumes as seen on the chart.
The declining volumes during the consolidation phase suggested that the supply was being quickly absorbed by the buyers.
This meant that the price had more steam to move up.
This consolidation also provided another good opportunity to pyramid up as the price gave a strong breakout of the consolidation base with massive volumes as seen on the chart.
My future plans for this trade:
• The price is currently consolidating in a flat base pattern. I will look to pyramid/average up more
if the price gives a strong breakout of that base.
• Will keep aggressively trailing with 21 EMA.
• If the price dips below 21 EMA aggressively then I will look to book 50% quantity and trail the rest with the base low as support.
• The price is currently consolidating in a flat base pattern. I will look to pyramid/average up more
if the price gives a strong breakout of that base.
• Will keep aggressively trailing with 21 EMA.
• If the price dips below 21 EMA aggressively then I will look to book 50% quantity and trail the rest with the base low as support.
That's a Wrap✅
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Follow @Vcpequitytrader for more educational content like this 📗
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