REPORT OF STOCKS ANALYSED ON LAST WEEKEND PART -2ICICI BANK
In last post of this scrip I mentioned is quoting "in hdfc little confident to go upside but here this gives me edge over hdfc." See how price moves changes sentiments in two days. In part -1 post I shared perfect harami pattern activated but in this scrip it is variation of harami which is not activated . last Saturday I was bullish on Icici but in two days scenario gets changed . But it does not mean that this stock fulfilled my condition of going down. Till red solid line is not taken out on 2hrs time frame chances price can move up. I will be little more confident when upperr yellow line is taken out in 1 hr time frame with first target of upper red solid line and that is also taken out on 1 hr time frame then blue zone lower band.
MARUTI
In my last post of this stock I mentioned is quoting " i will like to trade when price gets activated on next day by closing above bull candle." You can see in two days trading price did not close above bull candle means the piercing pattern circled in green still not activated so no long can be initiated . See the beauty of analysis I made red dotted line price in two days did not dare to breach this . Can you imagine how precision the moves are manifested with clear conditions no confusion in any condition. This is why I every time emphasize on education of this unique language. As in last post already mentioned the clear conditions of long and shorts so I would not discuss here interested traders can see last post on this scrip.
AXIS BANK
In this stock my biased was for long side Till Saturday but on Monday trading changed to down side why I tell you by comparing my statement " if green support is not taken out on lower time frame and later on next day in daily time frame." You can see on monday it did not even try to touch high of bullish candle and whole day traded down. This shows weakness and breached green support so long positions should have been surrendered on same day. The next day means today close is below bullish candle low means taken out condition is also fulfilled. That change of sentiments made my biased now down side. But I will not initiate short Till red support is not taken out in 2 hrs tine frame. Till then stock is in no direction range neither long nor short can be initiated without clear break out either sides.
BHARTI AIRTEL
In last post of this scrip I mentioned is quoting " piercing pattern on good tested support not activated yet." You can see two days trading candle could not give any candle close above this pattern bull candle for its activation being on good support. This changes my biased to down side if this pattern low is taken out in next trading session on 2hrs chart then I will be completely bearish for this . I made pink color solid line on bull candle . On the other side If pink dotted line in upside is taken out on 2 hrs chart then I would like to initiate long with sl of pink solid line. If you have depth in your analysis and skill to change you sentiments with price market will reward you . In these two parts I tried to show you two days back my sentiments with stocks and how I switch with price formation. In some stocks I changed and in some did not. Rest market will decide.
YOGESH VATS
Note. All trading positions should be initiated by the advice from your financial planner.
