Today's Trade (09/04/2020)
1. HDFC Bank – 4375 Profit
2. Titan – 10500 Profit
3. Crude Oil – 2300 Profit
Total Profit – 17175 Net Profit/Lot
HDFC Bank Trade (Entry – 910 ; Exit- 918.75 )
It was a news based stock pick and the news was that its CEO is retiring in October but the RBI has suggested to wait till November’20.
Near 909 this stock was consolidating and therefore 910 was a breakout level. Also, using the Price Action strategy the call was activated and once it crossed this level it didn’t look back.
Titan Trade (Entry – 970 ; Exit- 984 )
As per the Crude Oil outlook given yesterday on the market updates section of our website & on our telegram channel, the following were the supports & resistance for 9th April’20:-
RESISTANCE 1 – 1931
RESISTANCE 2 – 1984
RESISTANCE 3 – 2018
SUPPORT 1 – 1879
SUPPORT 2 – 1837
SUPPORT 3 – 1787
2018 level was a good support in crude oil on 20th March & when it was broken we saw a huge fall in the prices of crude oil. This level was acting as a resistance on 3rd April and was broken that day to make an intraday high of 2104.
This level again was a resistance today and after breaking this level, the trade was activated as per price action strategy.
ProCapitas Market Pro Division