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Friday, 22 February 2013

Todays Trades 21 Feb 2013

Readers, today was a successful day overall. Based on my pre-market analysis here, I decided to go short on Tata Steel, SBI and ICICI Bank.

1. ICICI Bank Successful Sell

ICICI Bank was consolidating below the 100 DMA and then moved down heavily. Entered at the breakout of consolidation.
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2. SBI – Successful Sell

SBI was negative after open, started consolidating for a very long time. Indicators were falling and finally MACD gave a negative crossover in 5 min chart along with breakdown from the consolidation range. Overall market was also negative.
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3. Tata Steel – Successful Sell

Tata Steel was showing pretty much the same pattern as of SBI. After a long consolidation, the stock broke down from the consolidation range and was a good selling opportunity.
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