INTRADAY.

Good Morning.

All stocks move up n down between their support & resistance. Some time a stock breaks support/resistance.

How up or down a stock will move depends upon its previous day’s closing and positive/negative news after market hours.

I prefer to go for a stock which had broken its resistance but not near its next resistance. I avoid a stock which had broken its resistance but trading below its 3/5/9 day’s SMA.

Sometimes closing price indicates it had broken resistance but VWAP/ average traded price is below resistance.

Intraday trader is looking for small profit and hence knowledge of S&R is important along with mathematical calculation for qty to buy at different level so that one gets chance to exit position at least with paper-thin margin instead of loss.

Pivot point trading is not helpful, check FINCABLES.

I will buy FINCABLES above 247.50 and at 243/240.75, SL 238, target 254.25/256/258.

Calculation of S&R is based on mathematical calculation.

Regards