What technical indicator could have predicted PNB’s huge intraday move today?
I don’t think it can be constantly be predicted, this kind of move. But you can see the price moving up since November first week. The PSB are also going up. Also yesterday the price was trading in a range and today morning it broke yesterday’s high right at the open and kept going up.
I had taken the trade this morning and got out at 54.8 when the stop hit.
I don’t know if advance prediction can be done.
same, i got in and out several times over the last 2 weeks . Its been on a tear , almost up 25% since mid last month.
But today’s move was violently bullish. I was wondering how this could have been predicted
No idea on how this could have been predicted yesterday.
I agree with you, I am a direction neutral trader
But wondering if anyone was able to catch today’s move at open. Payoff would have been spectacular
Aren’t there open interest, long buildup etc?
Also, price making 52 week highs, ATH etc breaking all previous resistance zones with good volumes, if you look at longer time frames.
SL got hit or trailing profit SL?
You cannot predict the magnitude of the move. Just ride it, book partial and keep trailing as the trade goes in your favor.
This small tight base zone was a good entry point. It has given 25%+ move, we can’t say how much further it will move. At any point of 20% move, I cut my position size by 50% and ride the rest.
Do you use any indicator for predicting the future up or down moves?
Guys I don’t think it is due to any indicator. In fact, I believe the overbought session is due to the expectation of high gains from their state sale in UTI (15%) MF.
Of course, fundamental reasons are why stocks move up or down, but sometimes those reasons are known much before, and positions are built over weeks or months, if there are tailwinds for the foreseeable future.
Trailing SL, was trailing the higher low.
So, you made profit today too