Pattern - T-30. Long tail of hammer. Heavy volumes seen.
Results : much better than market expectations.
Wave - Wave 1.
Williams %R - 95 on the day before entry.
Support - 1928 : tail of hammer.
Entry Date: 19-10-2010 and 25/10/2010 in futures.
Entry Price: 2040.
Exit Price: 2200.
Exit Date : 4/11/2010
This was a tricky stock to trade. I had to have a lot of patience on this one. I closed my position in cash and entered a position in Futures, as futures trading got enabled on my new account. But I had to do some running around to do that.
I also had a major scare when there was a risk of getting stopped out, as some big time players decided to go in for a vertical selloff on a late Thursday afternoon on the day of Futures Expiry.
Once that was through, it was all smooth sailing.
The final outcome, a nice Diwali bonus. From my old company. L&T ki Jai :).
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