Chalet Hotels - 1mth C&H within 7mth H&S
Showing multiple patterns: 7mth H&S, 4mth C&H, 1mth C&H.
The stock has been in accumulation since the beginning of the year. Tried to breakout in June on good volumes, pulled back and stabilized in the 175-180 zone. Then made another attempt on massive volume but faced quite a bit of selling. Interestingly, even this volume of selling couldn't push the price down by more than 5%, given the Delta Variant scare and a decent selloff in the in the broader market. The 4wk RSI is at support. The RS is above Nifty. And the selling seems to be absorbed. 175-185 could be a good accumulation zone. It may shoot up sooner than expected.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
BUY GUIDANCE:
Never ever buy before 3PM. I have been burnt many many times. Try to buy between 3:15 - 3:30PM, later the better.
SELL GUIDANCE:
Selling in Profit:
Sell earlier in the session when the prices are higher, around 11AM.
Selling at SL:
Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.
Note: I reserve the right to be wrong.
DISCLAIMER:
I am not a SEBI registered analyst. Please consult your financial advisor before investing.
The stock has been in accumulation since the beginning of the year. Tried to breakout in June on good volumes, pulled back and stabilized in the 175-180 zone. Then made another attempt on massive volume but faced quite a bit of selling. Interestingly, even this volume of selling couldn't push the price down by more than 5%, given the Delta Variant scare and a decent selloff in the in the broader market. The 4wk RSI is at support. The RS is above Nifty. And the selling seems to be absorbed. 175-185 could be a good accumulation zone. It may shoot up sooner than expected.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
BUY GUIDANCE:
Never ever buy before 3PM. I have been burnt many many times. Try to buy between 3:15 - 3:30PM, later the better.
SELL GUIDANCE:
Selling in Profit:
Sell earlier in the session when the prices are higher, around 11AM.
Selling at SL:
Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.
Note: I reserve the right to be wrong.
DISCLAIMER:
I am not a SEBI registered analyst. Please consult your financial advisor before investing.
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