Ranbaxy - Trading Post Results

 

HOLY GRAIL

  

The scheduled date for Ranbaxy quarterly results was on 26th Feb 2013. Ranbaxy became volatile a month before its results.

So I kept a watch and wait policy. Ranbaxy announced results late afternoon a hour before the market closure.

I was keen to trade. As I waited the Hourly Chart formed a excellent bearish pattern at 3.25. The ADX made a sharp negative crossover. The MACD crossed below its zero and the ADX strength line spurt up. The oscillators gave sell signals.

The Daily and Weekly Charts were already in a negative mode. This gave me a confirmation and I took a Put of Ranbaxy 5 min before the market closure and a positive trade at the fag end of February's expiry.