All eyes on ICICI Bank at 960 - Sell or Buy more?

Having a plan of action before a stock you hold comes to a crucial point is essential. You have 3 decisions to make in ICICI Bank as it comes to LTH. All eyes will be on 960. I hope these rules help

1. There are sellers at 960 - if the stock moves there slowly it will get hit back - possibly all the way back to 940
   
2. Just like happened in ITC - we need to clear the Life time high with force - maybe on an EOD basis on high volumes. At that point sellers could turn into buyers , clearing the way to 1000
   
3. Also highlights the importance of doing the fundamental work before hand - the results gave enough time to buyers to get in
   
4. Setting alerts on TV is essential to avoid "reaction based trading" - set alerts and only take actions once they are triggered.
   

Hope this helps - all comments and criticisms are welcome

Yorum:

ICICI Continues to drift around the 935. Continuously coming back from 945-950.
Am monitoring it but not taking any trade as of now

İşlem kapandı: hedefe ulaştı:

As discussed in the video - the stock never had any energy when it went to 955 and as expected it came back to 935. It should bottom out around 930 and maybe 925 and would be the buy zone assuming that the market (nifty) is still holding above 18500.
I would cautiously re enter the trade at 930, keeping the stop at - 1 ATR level thats 920.
Cheers

İşlem kapandı: hedefe ulaştı:

ICICI Closes below 920. Will wait for it to build a strong base around this level before going back in. Its still bullish but highly overowned and hence lots of sellers

Yorum:

ICICI Seems now to be forming a solid base - if the base holds - we could jump right back in for a target of 960 plus right before the next results