Hi Traders / Investor , Recently I posted hdfc bank analysis here Icici bank having same pattern that is an evening star and behaved same but in hdfc little confident to go up side target but here this gives me edge over hdfc. Both are in accumulating process . The behavior of price formation is same but effect would be different that is I feel May be I wrong this time will tell. I circled same pattern in white. I will not discuss about this pattern already discussed in hdfc post. For Monday price comes in yellow dotted range and sustains there or take out this yellow dotted band up then one should go long with the sl of lower band of yellow zone with the target of blue zone lower band. This would be positional trade. Entry at right time is important. If risk reward ration do not match then leave it for trading. In any case low of Friday is breached and price do not come back in 30 mins then trend will change to down. investors should wait when price come back from blue zone then think over to invest that i will share in next week. Til then lat price do whatever in upside. YOGESH VATS Note. All trading and investing should be done with consulting your financial planner.
@yvatsji Sir, I entered in the ICICI at 326 (keeping 322 stop loss if stays more than 30 minutes as suggested by you) you may call this hope trade but I know what I was doing. I was just following your conditions, I am now hoping for the red line as a first halt and blue zone as the final target. you always inspired to write about the trade so doing the same.
yvatsji
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@Rohaningle, entry price seems to be good but at that price move was not confirmed It gave signal today. I call it very aggressive trade. May any day doing same you will realize it .
Rohaningle
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@yvatsji, Thank you for your views, I will try to avoid such aggressive trade in the future, and took the position only after the confirmation.
Rohaningle
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@yvatsji, Profit booked at 363 around 10% gain. with reference to your bnf post covered my position near the green resistance zone. was that a right trade? or exited early?
yvatsji
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@Rohaningle, correct trade this time you applied your brain. Keeping greed out.
balakrish20
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for learners like me nice explaination . i liked it sir
Hi, your analysis are great! What theories or concepts do you use to Analyse the markets ? Like Elliot waves, Fibonnaci's, Gann Methods or something else ?