In the trading world, you will either make money or lose money on any given trade. All that matters in the end is making more money when you’re right than you lose when you’re wrong. Knowing this, traders have learned to accept failure as part of the game, but they also use the information they acquire from their mistakes as a learning tool. Frequently, what they learn from losing money is more valuable than what they learn when they make money
ICICI bank after a 130 points decline in matter of 11 trading days has shown short covering sings yesterday,as stock went up by 8% in a single session. Stock is approaching its trendline resistance and 20 SMA resistance zone between 709-721.
Traders who have taken positional longs should use this range to book profits and shorts can also be created with a sl of 721
Sell below 694 Tgt 688,679 and 671
Buy above 707 Tgt 715,721
Aban Offshore is showing signs of accumulation as trading within a small trading range and volumes are also good signalling smart money is slowly entering the stock.
Long Term Investors can put 20% of capital at current levels in this stock.
Buy above 339 Tgt 345,351
Buy above 402 Tgt 405,408 and 411