ICICI BANK LTD.Short
Profit Booking Due for Banks
Updated
Expecting some action this Expiry for BankNifty Contracts.
I have had a post of BankNifty hit the SL but i will surely take the chance to Short at yesterday's low of 489.5
Trendline Break is always a good bet, let's see if the stock respects its supports like BankNifty hovering in the uptrending channel;
or the banking stocks get a beating with sellers rushing to book profits.
The other situation is that the market surprises us with new all time highs :)
Intraday traders must keep strict SL according to their risk appetite. This market is for smart people, not emotional ones.
I have had a post of BankNifty hit the SL but i will surely take the chance to Short at yesterday's low of 489.5
Trendline Break is always a good bet, let's see if the stock respects its supports like BankNifty hovering in the uptrending channel;
or the banking stocks get a beating with sellers rushing to book profits.
The other situation is that the market surprises us with new all time highs :)
Intraday traders must keep strict SL according to their risk appetite. This market is for smart people, not emotional ones.
Note
Still taking support from trendline.Would shift entry price to 492 level on 10min candle break with StopLoss at Today's high of 504.
2:3 RR
Profit booking happened in PSU stocks and Nifty today. Let's see if Friday gets a bout of profit booking in banks. Expiry next Thursday will cause volatility. Best to enter trades now and Monday.
Note
Shifting trendline support higher and higher. No confirmed break as of yet on 10min candlestick. Good for us, better Risk Reward.Note
The time has comeOrder cancelled
No triggerMarket at ATH. Will post updated idea
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