Here's an account of case studies on Axis bank scrip. Price opened Gap up with High-wave candle. In the first hour, price formed a Triangle pattern. The pattern could be seen clearly in 2-minute chart. The pattern developed well above 200-MA. Please refer the 5-minute chart below.
As price moved out of triangle higher, I drew a Buy plan box. The Risk-Rewards ratio was favorable. RSI started bouncing off from mid-50 level. The target was fixed near the confluence of PDH, 'P', and Supply zone marked by horizontal box. Price did move higher and hit weekly pivot 'P'.
I added two more short opportunities boxes. In the last opportunity, I closed the box manually as I was not comfortable with the sluggish movement. In total, brokerage deducted, 7 points were earned.