ICICI BANK - Long Position

29 de jun. de 2018

I know this looks like quite a mad decision but I have gone long on ICICI Bank since yesterday @ 272 (futures price).

- It has retraced to almost 78.6% of the rise from 3rd April to 15th May A very deep retracement
- Immediate target = 288 (futures price July Contract)
- SL = below 268 (futures price July Contract)

29 de jun. de 2018

Trade ativo

Long since 272 ( futures price July Contract)

29 de jun. de 2018

Nota

Daily chart seems to forming a Hammer candle after what is more or less a series of 3 Falling Crows (with a tiny Doji in between). Theoretically that is bullish.

30 de jun. de 2018

Nota

Highest Open Interest addition is at 260/270 & 290/300/310/320 (spot prices). These could be SL & Target levels. I have written puts at 270 in addition to being long @ 272 in futures.

1 de jul. de 2018

Trade ativo

On Monday I will set 290 (futures) as immediate target and reduce some of my bullish positions.

2 de jul. de 2018

Trade ativo

Moving beautifully... Target set at 290...

2 de jul. de 2018

Trade ativo

Added to long position in futures

5 de jul. de 2018

Nota

ICICI Bank price action has developed arthritis!! But hopefully it will move sometime soon. Holding long position.

6 de jul. de 2018

Nota

Closed @ 270

6 de jul. de 2018

Trade ativo

Shorted @ 270 (futures)

6 de jul. de 2018

Trade fechado: objetivo atingido

Closed @ 267

6 de jul. de 2018

Nota

Long at 270.1 futures price

9 de jul. de 2018

Trade ativo

Finally some signs of a recovery!
Targets: 275/280/285/288/290/301/313/325

9 de jul. de 2018

Nota

Targets and all prices mentioned above are for July Futures

9 de jul. de 2018

Trade fechado manualmente

Closed for a modest profit of 8k per lot. Moving too slow for too long. Released margin for new trades.

9 de jul. de 2018

Nota

It was a good idea to exit ICICI Bank when I did.

12 de jul. de 2018

Nota

Re-entered long in ICICI Bank...
The Daily candles today and yesterday seem to be forming a bullish Harami pattern

12 de jul. de 2018

Nota

Long position because:
- Very low stochastics on the daily chart since about 5th July
- Price action has been finding support at 127.2% extension of the drop from 15th May to 31st May. Often this is a point of reversal and it has been consolidating at this level since 28th June.
- And finally as I mentioned earlier there seems to be a bullish Harami candle pattern forming in the daily charts

16 de jul. de 2018

Trade fechado: stop atingido

260 SL hit. I expect a support levela t 257/252. ICICI Bank is severely oversold so there may a good opportunity at this price level. However, in futures the lot size is 2750 so Mark To Market margin requirements could be quite high. Shall watch the situation tomorrow and then decide on a trade. Or may enter long in the spot market for long term holding.

17 de jul. de 2018

Trade ativo

Long @ 262 (July Futures)

21 de jul. de 2018

Trade ativo

Holding long position

29 de jul. de 2018

Trade fechado manualmente

Rolled over July futures position and closed Aug futures at 290 which was my target