ICICI BANK - Long Position

29 Haz 2018

I know this looks like quite a mad decision but I have gone long on ICICI Bank since yesterday @ 272 (futures price).

- It has retraced to almost 78.6% of the rise from 3rd April to 15th May A very deep retracement
- Immediate target = 288 (futures price July Contract)
- SL = below 268 (futures price July Contract)

29 Haz 2018

İşlem aktif

Long since 272 ( futures price July Contract)

29 Haz 2018

Not

Daily chart seems to forming a Hammer candle after what is more or less a series of 3 Falling Crows (with a tiny Doji in between). Theoretically that is bullish.

30 Haz 2018

Not

Highest Open Interest addition is at 260/270 & 290/300/310/320 (spot prices). These could be SL & Target levels. I have written puts at 270 in addition to being long @ 272 in futures.

1 Tem 2018

İşlem aktif

On Monday I will set 290 (futures) as immediate target and reduce some of my bullish positions.

2 Tem 2018

İşlem aktif

Moving beautifully... Target set at 290...

2 Tem 2018

İşlem aktif

Added to long position in futures

5 Tem 2018

Not

ICICI Bank price action has developed arthritis!! But hopefully it will move sometime soon. Holding long position.

6 Tem 2018

Not

Closed @ 270

6 Tem 2018

İşlem aktif

Shorted @ 270 (futures)

6 Tem 2018

İşlem kapandı: hedefe ulaştı

Closed @ 267

6 Tem 2018

Not

Long at 270.1 futures price

9 Tem 2018

İşlem aktif

Finally some signs of a recovery!
Targets: 275/280/285/288/290/301/313/325

9 Tem 2018

Not

Targets and all prices mentioned above are for July Futures

9 Tem 2018

İşlem elle kapatılmış

Closed for a modest profit of 8k per lot. Moving too slow for too long. Released margin for new trades.

9 Tem 2018

Not

It was a good idea to exit ICICI Bank when I did.

12 Tem 2018

Not

Re-entered long in ICICI Bank...
The Daily candles today and yesterday seem to be forming a bullish Harami pattern

12 Tem 2018

Not

Long position because:
- Very low stochastics on the daily chart since about 5th July
- Price action has been finding support at 127.2% extension of the drop from 15th May to 31st May. Often this is a point of reversal and it has been consolidating at this level since 28th June.
- And finally as I mentioned earlier there seems to be a bullish Harami candle pattern forming in the daily charts

16 Tem 2018

İşlem kapandı: durdurma seviyesi

260 SL hit. I expect a support levela t 257/252. ICICI Bank is severely oversold so there may a good opportunity at this price level. However, in futures the lot size is 2750 so Mark To Market margin requirements could be quite high. Shall watch the situation tomorrow and then decide on a trade. Or may enter long in the spot market for long term holding.

17 Tem 2018

İşlem aktif

Long @ 262 (July Futures)

21 Tem 2018

İşlem aktif

Holding long position

29 Tem 2018

İşlem elle kapatılmış

Rolled over July futures position and closed Aug futures at 290 which was my target