The BUY call given on INDUSIND BANK FEB Futures to Buy @1225 with Stop Loss @1190 has achieved its Target @1330. Below the BUY and SELL chart.
BUY call on 1st Feb
Target achieved on 6th Feb
So you might be wondering how could this trade happened looking at the financial health of the bank.
Let me analyze the situation for you. Remember, the Price is the main indicator we look for when we push the button. Here the Demand/Support price for the bank was in the range of 1250-1191. We had set up the SL @1190 and this is important, always keep in mind. The Target we set was at 1330 which can easily be spotted on the chart.
When the price came to our pre-determined Buy level, we push the button without any hesitation. When we bought, the situation in the market was bearish. I mean the Bank Nifty was crashing over 1000 points, All key indices trading in red, Coronavirus weighing on the broader market. But we remained calm as we already have our Entry & Exit points in our trading plan.
The patience paid out and the price zoomed up from our entry and we’ve achieved our target price of 1330 within 5 trading sessions. We just followed our simple trading plan and kept patience while in the position.
The trading rule which has been applied here can be mirrored in any market, be it currency, commodity or interest rate futures. Following your plan is key. I am enjoying my profits, are YOU?