, 15 tweets, 3 min read Read on Twitter
Major breakout on ICICIBANK fut, targets can be 400 levels.
#BREAKOUT
As I had harped on the 361 figure for long, after closing above 361 on 28th Dec, ICICIBANK has not closed below 361 anyday till now.
If following me closely, this should have been a good entry
btw, this a positional trade maybe for the whole of Jan, not an intraday call

Trades have to be in appropriate options strategies. A backspread will be good give the vols and so early in the expiry
This is how my strategy payoff graph looks like for the backspread.
Payoff graph will change according to time, i.e, when you SL gets hit or target gets achieved
At a broad level this is what you will experience when you implement the Call Ratio Back Spread-

Unlimited profit if the market goes up
Limited profit if market goes down
A predefined loss if the market stay within a range

zerodha.com/varsity/chapte…
Some statutory warnings which @apeksha02 has rightly pointed out :
1. This will require margins of a lac per combination( 1 sell+2 buy)
2. Use position sizing as per your risk profile
3. This is not for novices. Scalping or minor adjustments might be required
This is the logic for the ICICIBANK bullish trade. This according to my models is a confirmed breakout ( proprietary setup)
Momentum and trend had signaled breakouts earlier, volatility based price confirmation came on Friday thus triggering the trade
Away from markets , trade running as expected
In terms of ROC , this is 10% return in 4 days 😁 ( got inspired on this ROC part after watching @KatariyaPran 's tweets
Booked profits in 50% positions , rest running
ROC is now 15% in 4 days 😁
Plan for the day :
1. Buy a 375 CE
2. Sqoff the backspread around 385-86
3. Let the 375 CE run with SL 375 by closing
What I did in first 5 mins :
1. Sqedoff the sold 360 call
2. Bought the 375 call
3. Gave a tight stop on the 365 call

Now let's see how this goes 🤔
Now only the 375 call continued
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