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Tuesday 5 March 2013

Todays trades 05 Mar–3 winning trades

Readers, today was a very rewarding day with all trades going successful. Basically , I followed my own pre-market levels and traded based on the charts. For the purpose of educating the readers, I have included charts for the trades.
Please read the pre-market calls first and then proceed below.

Which stocks to trade on 05 Feb
This will give you an understanding of how you combine levels and charts for trading. Levels are support/resistance from charts in the last few sessions, pivot points etc.

1. Trade 1 – Tata Steel (Success).

I was expecting a bounce back in Tata Steel today as per my analysis here.
Tata Steel started falling after open and crossed the pivot below. However it made a rounded bottom which is a very bullish sign and recovered. Crossed the pivot from below and sustained.
Crossing the pivot from below is an extremely bullish sign.
Markets was extremely bullish and the candles never went below the 20 MA line.  So the position was held till end for maximising profits.

2. Trade 2 – L&T (Success)

L&T, basically respected the levels from last few days. L&T started falling after open and went below the daily pivot (blue line) , but recovered and crossed above the pivot.
Crossing the pivot from below is an extremely bullish sign.
I entered here and was long mostly till end of the session.
However L&T did not cross 1400 which would have triggered further rally.

3. Trade 3 – Cipla (Success)

Cipla started falling continuously after market opening and hit the low of 369.30. 369 was my SL for any long trades, which did not hit. I waited to see if the stock crosses days high. Finally , I entered long position when the stock crossed day’s high and MACD, RSI and SSTO gave buy in 5 min charts. Please see the entry and exit in the chart.

ICICI Bank – I avoided since the stock was gap up significantly above all the levels.



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