23% Profit - End of Day Market analysis on March 12th trade

Welcome Traders,


This is Hari from FIG posting end of the day analysis on the stock we selected yesterday (11-03) for today's(12-03) intra-day trading.

 PROFIT

 

For those who are not aware on how we selected the stock please watch this video demonstrating How to Pick Stock for Intraday in 2mins. Subscribe to My channel to learn more strategies and technique
 

To identify the entry and exit points for each stock watch my video on How to pick Entry and Exit point for intraday.
These are the list of stocks and its support and resistance  which I posted yesterday, these stock gave an average of 4% move today if we had fully capitalized the movement each stock would have given atleast 60% Profit by using leverage . Click here to see the stocks

To have a deeper knowledge on why don't use indicators for trading, checkout out post about Why Technical Indicators fail ?

 I have place trade on two stocks and gained a profit of 23% intra-day  you shall analyze other stocks and comment if you have any doubts.

 CENTURYTEX
We found the strength of buyers was very strong when the market breached two of our resistance line, so we went long, But the stop Loss was too low, sudden spike caused the trade to exit. Later I was not able to follow through as the capital was locked in orient Bank. 

But then it was a nice trade.

ORIENTBANK
Orient bank behaved as expected it fell down from out resistance line and the second 30 mins candle refused to move up which shows our resistance line was strong sellers who gapped down the scrip, shorted and booked profit in 90mins A big profit though.
 

MUTHOOTFIN
 As Marked the muthootfin came down to the support line we had drawn yesterday and it reversed from there. Just went long, knowing the strength of buyers from Market Depth. Booked Profit like a charm
 

This is how we have to analyze the market for entry and exit. We should never place a trade in hurry market will always give opportunity for you to enter trade so time the right trade. It does not mean we have place a trade the moment we see a odd change in the market, we have to wait and confirm that the change is valid reversal point. Just follow our support and resistance line , and follow my strategies to book easy profit without indicators.




Other stocks which we picked also showed some movement.

Check the blog daily at 8.45AM for the stock pick for the day.

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Regards
Team FIG