Day trading - Intraday high Low almost predicted

[jaytrader]

Sid,

Lets take ICICI today,

icici 838.6 834.4833333 826.8333333 845.22 822.52


Today ICICI opened above my high1( R1) level ..so i would check if it reaches high2(R2) level.

At 9:45 low was @ 838 , which was four points above my high1(834.4) , so i adjusted my high2( 845+4) ----> 849.

as expected it went to 848.50..Confirmed MACD and stochastic on 2 min chart, also a bearish engulfing candle formed.

so shorted @ 848 with stop loss 850( very important) . then u can wait 4 our targets wit trailing stoploss..


my observation...once we are shorting at R2, stock wud 4 sure come to our low levels..

Short once it breaks R2 from above,

Buy once it goes above L2 from below


once by 10 o clock , if we had decided the trend , its fun:clap::thumb:

 

[jaytrader]

Hi Mane,

Nifty levels for this entire week.

Dont trade based on these levels...we ll track huw it fares this week based on these levels.:thumb:

 

[jaytrader]

ICICI Bank

As predicted , ICICI reached our high2 (845 ) and stock fell to our low 2 levels of 823



ABB

Reached our high2 ( 779 ) and fell down to our low levels.

 

[jxcess]

ICICI Bank

As predicted , ICICI reached our high2 (845 ) and stock fell to our low 2 levels of 823



ABB

Reached our high2 ( 779 ) and fell down to our low levels.

hey jaytrader fantastic strategy. But I didn't follow it as I was a little skeptical. I will follow it next time. But can you please give the trade details again like at what price you shorted/went long and what price you squared off so I can just make a note of the profit margin you earned. Thanks

 

[jaytrader]

Hi Jxcess,

I would normally do a single trade a day!!!!!!!

If i incur loss, i wont proceed further that day.

I will let u knw the trades..:thumb:

 

[reachjj]

Hi Mane,

Nifty levels for this entire week.

Dont trade based on these levels...we ll track huw it fares this week based on these levels.:thumb:

Where are the levels?

 

[reachjj]

Nifty levels for this week.

5083.166667 4978.466667 5239.575 4925.475

Can you tell us, how you got these levels?

 

[jaytrader]

Todays level

Stock open High 1 low 1 high 2 low 2

united spirits 613.1 625.2 615.676 630.95 602.1




BPCL 714.9 717.85 711.08 723.22 702.92

 

[jaytrader]

shorted BPCL @ 720 , with with with my high 2 as stop loss.

 

[jaytrader]

United spirits can move upto 629 , then 637...breaks out with volume 4 big move..