As expected in Trading plan for 4th november, ICICI bank took support at 427 level. One could have taken long at 433 and added extra at 427 level. ICICI bank closed at 437. below are the trade plans for 5th November.
1. Positional long should be carried with SL of 425 with target of 455/468. Wait for dip towards 433 level and go long with SL of 425.
2. Any dip towards 433/427 is buy with SL of 425 for target open or same as positional long target for intraday.
3. Shorts should only be initiated only if 425 is broken with SL of 428 for target of 419.