Dear Readers, today I had 3 successful trades. Though market opened gap down, both ICICI and Tata Steel gave me good selling opportunities. Read below.
In 5 min chart, 5 MA, never crossed 20 MA. No single candle was fully above the 20 MA. So I maintained short and covered at end of the day. This is a good example of a downward trending stock, where we should maximise the gain by following the trend.
1. Trade 1 – Tata Steel Sell – Success
In my pre-market analysis yesterday, I had indicated 360 as the critical support, the stock opened below 360 and sustained. On crossing the days low, I entered a short. SL was days high. I alerted my readers here during the day.In 5 min chart, 5 MA, never crossed 20 MA. No single candle was fully above the 20 MA. So I maintained short and covered at end of the day. This is a good example of a downward trending stock, where we should maximise the gain by following the trend.
2. Trade 2 – ICICI Bank Sell – Success
ICICI Bank after opening went below the critical support which I had indicated here in my pre-market call. However, I wanted to make sure that there is no big bounce back, so I waited till the stock went second time below the days low again. I had alerted my readers here. It was a good short, the stock went near 1050. I covered when the stock was above 20 MA.
3. Trade 3 – Infosys Buy – Success
In my pre-market analysis I had written that IT sector is strong. Wipro was in negative, but Infosys was in positive during the day. So I watched Infosys, after a long consolidation, once the day’s high was crossed, I entered long and it gave me 10 points before market close.
1 comments:
Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
Mid-Cap and Small-Cap,
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