The Nifty had a nice intraday move.... It gave almost more than a 100 point+ move to traders who attended my intraday workshop! Again one of those few days which an intraday trader waits for.....
One stock which we had discussed in the ITG meet on Tuesday was SBI. I had indicated that a break below 2275 should give a sell signal. Well the price broke down today and closed near to Rs 2210..... (in fact an intraday trader would have been short at 2310 in the morning as per our technique)
Use any corrective upmove to sell at Rs 2250-2260 with a stoploss placed at 2325 for a down target at 2100 nearabout levels.
Various indicators (all not shown in chart) have given a sell signal - this is what was discussed in ITG.
Happy trading !
CA Rajiv D Khatlawala
www.investogyan.com
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