Monday, March 21, 2016

Swing in Place - Did We Miss SBI Move Today?

In my pre-market opening post today, I had indicated that SBI is ready for further gains. But while giving a buy price to re-enter SBI Mar Futures, I became extra cautious. I wanted an entry at 184.5/185.5. That was not to be!

SBI did not breach 192 on the lower side in today's trade. So I have to accept that we missed a wonderful opportunity to profit, even after predicting the move correctly. It happens when you are ultra cautious and want to enter trade at day's low.

Well be that as it may, the important question that begs an answer is - what now? I would suggest that tomorrow also go long in SBI Mar Futures for a target of 202. Swing is visibly in operation, so just go ahead and buy SBI Mar Futures at opening price that you get.