Breakout Trading Stocks:Siemens,IDFC and Bank of Baroda

By | September 12, 2012

As a trader who has seen a great deal and been in a lot of markets, there is nothing disconcerting to me about a price move out of a trading range that nobody understands.

Tight congestion in which a breakout occurs for reasons that nobody understands are usually good risk/reward trades.

The more a price pattern is observed by speculators, the more prone you are to have false signals. The more a market is the product of non speculative activity, the greater the significance of technical breakouts.

The general rule is: the less observed, the better the trade.

Siemens

Siemens has givenĀ  a breakout above 690 and closed comfortably above it.Today we need to see a follow up move with price and volume action.

Buy above 701 Tgt 708,712 and 718

 

IDFC

IDFC has show sign of breakout, Supply zone is coming with trendline resistance at 132.8 and after that 135 odd levels.

Buy above 131.5 Tgt 132.8,134 and 135.6

Sell below 130 Tgt 128,126.5

 

Bank Of Baroda

Bank of Baroda has shown a picture prefect breakout and is heading higher,

Buy above 648 Tgt 654,661 670

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