Do You Chase the Gap-Up Opening Markets?
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The market is set to open significantly higher after positive exit poll numbers, with Gift Nifty indicating an 800-point jump to around 23,500. This scenario often creates a dilemma for traders: Should you buy into a big gap-up opening?
The answer can be straightforward: Yes, if the stop-loss falls within your risk criteria.
In such situations, it's crucial to have a well-defined trading plan. Look for bullish patterns on the charts to identify potential entry points. For instance, a triangle breakout/Flag/Pennant on a candlestick chart or setups like DTB (Double Top Breakout), TTB (Triple Top Breakout), or AFT (Anchor Follow Through) on a Point-and-Figure chart can signal strong buying opportunities. In case you are following your systems, stick to it as per the signals.
What are you trading? Share your thoughts in the comments below.
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Sir what if someone is already long in CE, one should exit or keep holding ?
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Sir, Best thing about you is you train us and guide us according to prevalent situations, this not only helps us in trading profitably but also enhance our knowledge , thank you very much sir for your hard work and tireless efforts
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@Deepakk Chabria Thanks for your kind words.
