Analysis on March 6th trade 38.5% Profit

Welcome Traders,


This is the end of the day analysis on the stock we selected yesterday(05-06) for today's intra-day trading.

For those who are not aware on how we selected the stock please wathc this video demonstrating How to Pick Stock for Intraday in 2mins.

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 full capitalized the movement each stock would have give atleast 60% Profit by using leverage . Click here to see the stocks

 I have place trade on two stocks and gained a profit of 38.5 % intra-day. I will analyze the two stocks which I traded, you shall analyze other 4 stocks and comment if you have any doubts.

PROFIT 

SCRIP 1 BEML

If you check above, BEML opened below the support value, consolidated for a while and then it just fell from the top. It started to break support lines we have drawn yesterday. And finally found support at our third reference point exactly.

In the above chart you can check that A huge volume is accompanied with the consolidation, At that point we have to check strength of buyers and sellers using Market depth. I found the sellers are more active in the distribution region, So I placed a short and booked profit.

SCRIP 2 IDBI

Scrip 2 IDBI was selected using my formula in ChartINK, to more about the formula and how I picked the stock watch the video How to Pick Stock for Intraday in 2mins.

In the above picture you can see more volume is getting distributed near the resistance zone, Here you can check, each time the price has been marked above the resistance line so that the sellers shall distribute the stocks at higher value. To know more about the value check this video where I have explained the difference between the price and the value.

I shorted once I found that sellers are marking up the price and resisting above the resistance line and booked a big profit.

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.

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Regards
Team FIG