IOB

Scrip Name : IOB(NSE)

Trade Enter Date : 29/09/2010

Trade Exit Date :7/10/2010.

Buy Price : Rs.132.5

Pattern : Spinning Top seen after a strong downtrend.

Oversold condition confirmed by William%R.

Entered trade in anticipation of a trend reversal.


Profit taking:
   a. Sold some at Rs.140.56 on 4/10/2010.

   b. Exited at Rs.148 on 7/10/2010.

Looking at the volumes and the short time in which IOB has gained more than 10%, it looks like a breakout wave. I guess there is more opportunity to make money in this stock once a pullback occurs.

I would want to hold this position a bit longer, but had some other money management activities lined up. So closed the position.