Probability on the sell-side is very low. The sector is in a strong uptrend.
Some selling can be seen near buy target. Institutions might be active around the zone as a lot of retailers would try to trade the breakout and will be trapped as all the SL orders would be executed. (In this case, SL is nothing but sell orders in the market) which would dump the stock faster.
I will short the stock near the target after exiting the buy position.
Here, buying is from the point of view of the retailer and selling is from the point of view of the institution.
The red dotted line would be my stop for selling (This is a risky trade as the trade doesn't follow the regular market logic). Closing above that would eliminate my idea.
Will update any change during market hours.
Some selling can be seen near buy target. Institutions might be active around the zone as a lot of retailers would try to trade the breakout and will be trapped as all the SL orders would be executed. (In this case, SL is nothing but sell orders in the market) which would dump the stock faster.
I will short the stock near the target after exiting the buy position.
Here, buying is from the point of view of the retailer and selling is from the point of view of the institution.
The red dotted line would be my stop for selling (This is a risky trade as the trade doesn't follow the regular market logic). Closing above that would eliminate my idea.
Will update any change during market hours.