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Saturday, 16 March 2013

Todays Trades 15 Mar–3 winning trades

Dear Readers
As cautioned  in my pre-market calls, the negative news on Banking sector in India resulted in a fall in the markets, particularly in Banking. ICICI, Axis Bank and HDFC Bank fell between 1-4%.
Today’s trades.

1. ICICI Bank – Successful Sell

ICICI Bank opened below previous day’s close and was facing continuous selling pressure. I alerted the readers here to short on crossing the pivot. ICICI crossed below pivot and finally was down by more than 4%. Please see charts for more dtails on the trade.

2. Maruti – Successful Sell
Maruti fell below the support level of 1410 and finally crossed the pivot from above. I alerted the readers here real time and traded short. Please click on the chart for more details.

3. L&T – Successful Sell
L&T was hitting the resistance level of 1530 several times and could not move up. Subsequently it fell down and crossed the pivot of 1410. MACD never recovered above zero though in between the stock made an attempt to move up. Finally there was a dip allowing us to book profits. Please click the charts for more details.

Hope you too made profits. Please share your feedback and what else you would like to see from my posts.

I will be posting weekly outlook and trades for next week soon.

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