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Monday, 21 January 2013

Today's trades 21 Jan 2013



My trade today was a short on ICICI Bank. Below are 30 min, 5 min and 2 min charts when I entered the trade.

ICICI Bank 30 min Chart - Entry for Short Sell

ICICI Bank 5 min Chart - Entry for Short Sell


ICICI Bank 2 min Chart - Entry for Short Sell

Please see above chart to understand why and when I closed the call. In day trading, the key to book profits, trail SL and ready to close the position if trend reverses.


My second trade was a short on Tata Steel. The stock is in a weak trend for the past few days. So I decided to watch this stock when Nifty was weakening. It went up initially , but started consolidating. When consolidation happens, I do not know whether the stock will move up or down. So I wait for a breakout in either direction and also look for indicators - what signals are they giving. Once I got the breakout in sell direction and already signalled by indicators, I sold the stock. Refer charts below. 
Tata Steel - 5 min chart for entry

Tata Steel - 

Tata Steel - 2 min chart for Entry and Square Off 



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