There is a flag & pole pattern on daily time frame in ICICI PRU LIFE.
CMP is 520
I am taking long position in march futures here at CMP for 560-590 target.
Stoploss would be 498.
It is in good support zone & consolidated here. I think it is ready to blast. After breaking out above 530, It will move towards 560 & 590 very fast.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Trade active
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CMP 530
Trade closed manually
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went till 540 & reversed. Looks like breakout fail scenario.
CMP 527
closing position here (7 rupees in profit).
Comment
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CMP 545
Although I closed my long position but looks like breakout is sustained & it is headed for 560 to 590 levels.
Trade closed: target reached
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CMP - 560
Although I exited my position 2 days ago but Analysis was on point & would have captured 8-10% profit in futures.
Trade closed: target reached
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CMP - 579
I exited my position at 527 but analysis was spot on. expecting last target 590 tomorrow.
12% up as of now from my buying level in just one week!
10 rupiya 15 rupiya to sab ko bata chalta he updown hoga esh me kya badi bat he
akshit_official
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@bhaliyashaileah500 Futures mai 15,000 qty mai 10-15 rs se hi 2 lakh ka profit loss hota hai and maine toh 520 pr long kia tha and now its 560. So 10-15 ki baat ni hai, 40 rupees ki baat hai which is 8% in percentage. Baki agr aapko itna hi pta hai and koi bdi baat ni hai toh roz 50,000 quantity niche lo and 10 rs uper bech do. 10 rs toh uper niche hota hi hai roz. Roz ke 5 lakh easily ban jayege. :)
chadhadeepankar
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Holding from 542
ram_acharjee
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aare bhai, aisa mat bol re, weekly candle to close hone dete...
akshit_official
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@ram_acharjee you’re right. Breakout may sustain on weekly basis and it still can go further up but I’m also having future long positions in asian paints, ITC etc. which are looking like having more strength and more upside potential and ICICIPRULI is looking a bit weak, that’s why closed this one. Though It can still be held if holding only this. No worries :)
ram_acharjee
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@palwinder_sharda, Okey, Pray for me, technically :)