Swing Trading Idea in ICICI PRU LIFE

Feb 23

SYMBOL - ICICIPRULI

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!

Feb 28

Trade active

CMP 530

Feb 29

Trade closed manually

went till 540 & reversed. Looks like breakout fail scenario.

CMP 527

closing position here (7 rupees in profit).

Mar 1

Note

CMP 545

Although I closed my long position but looks like breakout is sustained & it is headed for 560 to 590 levels.

Mar 4

Trade closed: target reached

CMP - 560

Although I exited my position 2 days ago but Analysis was on point & would have captured 8-10% profit in futures.

Mar 6

Trade closed: target reached

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!