MCLEODRUSSEL – DAILY
Just see the sudden huge volume in OI on 13th Feb’14 as compare to previous days. If we see the price chart it is trading at support level for last 14 days. It presume that accumulation was going on and it was confirmed on 13th Feb’14 when a sudden increase in OI with rising price trend.
It was 1st opportunity to enter this stock around 255-260 levels with SL of 246 which was low of support level. Again a sudden jump in OI on 19th Feb’14 with rising price. It gave a signal to buy this stock around 270 levels with SL of 265 which is low of 20th Feb’14. And eventually this stock touched the high of 289 within 4-5 days. A good risk reward of 1:4 was here for traders.
