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  • Writer's pictureraytraceventures

Artemis Medicare on July 19, 2023

Updated: Jul 21, 2023

While scanning the stocks a night before, I found this stock forming a beautiful pennant pattern which is a form of flag pattern where breakout indicates the continuation of uptrend and attracts more buying. I hardly looked for 4-5 more stocks after this and immediately put it on my watchlist in an anticipation to trade it on the day of breakout without knowing that the next day is going to be a breakout day :) A trade was executed on the basis of below rationale

1. The price was under tight consolidation for past 3 weeks.

2. The volume during the consolidation phase was very low.

3. The movement of price has been very orderly, you can observe a clean price action on the buying side.

In first phase, 1000 quantities were bought at an average price of 125.25 as it was breaking out of the range. On the day of breakout it had 708k volume. As the price will keep moving in our favor we will keep on adding more quantities on pull back.

Risk Management An initial risk of Rs. 4100 has been defined for this trade which is around 3.3% of the capital deployed. Target Expected target for this trade will be somewhere between 155-160.

Screenshot of the positions held from Zerodha.


I'll update about the trade once the trade is closed. Thank you for reading.

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Which ticker is this?


ARTEMISMED, can be found on NSE

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