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Friday 29 March 2013

ICICI Intraday Buy - Trading Video

Dear Readers

Posting this video for introducing important concept of day's high / previous day's high and its use in Intraday Trading.

In my pre-market calls on 28 March, I had given a buy of ICICI Bank above the high of 27 March - 1027.
Previous day's high is an important resistance level if the stock opens below it. On 28 March, ICICI opened below the previous high and remained below that level until the last hour of trading. Overall markets were moving up and ICICI also crossed the days high with volumes. An entry there resulted in good profits.

This is a pattern ( either moving above day's high or falling below day's low) towards the end of trading day is very common in Indian markets and can give handsome profits. Following additional confirmations are important to enter the trade - Increase in volume, technical indicators supporting the trade, Moving Averages trending in the direction of the trade. All these increases the chances of success dramatically. You can see all of these in this trade.

Please watch the video to see the trade.



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