Hi folks!
I have a doubt and will be glad if anyone helps with clarification. You see this is what Marketsmith India’s view on ICICIPRULife is as of today.
Please see Master Score and the view which says "Poor earnings and poor price performance make this a stock that still needs to prove itself.
Here is the weekly chart of the stock.
The set up that I follow identified entry at EOW 3-6-24 and trade triggered at 600.55 during next week and in a matter of six weeks the stock has given 15.6% return. To me this is good ROI. So my doubt is this - if anyone had subscribed to Marketsmith, perhaps he/she would not trade this stock because of that Score. But here it is giving >15% return. So how helpful are reports from financial websites in taking trading decisions?
I subscribed to ETMarkets but I am not sure if it is helping me or may be I don’t know how to take benefit of it. So it will be nice to hear views of other traders.
All the best folks!
@PriceCatch If you are only trading, ignore any fundamental data or views. Marketsmith is mostly based on CANSLIM interpretation of stocks.
As an investor, a company needs to prove its earnings strength and balance sheet quality. A stock can go from 10 to 1000 but if the fundamentals aren’t good it is of no use to the investor.
On the contrary, a trader need not concern himself with any fundamental, macro or earnings data. He/she just needs to apply his setup on the chart and if it fits, then based on the principle of weight of evidence, he/she should take a position.
Thanks for the response. Appreciate it. One thing though, specifically with regards to ICICIPru… don’t know how the stock is attempting to reach and probably BO ATH, if fundamentals weren’t good!
Hi @PriceCatch I didn’t say anything about any particular stock. I was referring to the tricks of the trade in general.
That being said, everybody has their own strategy and thought process. If your strategy and thought process is working for you, you should go behind with all your might, irrespective of anybody’s opinion.
I am very sorry, I cannot comment on any stock because of the uncomfortable regulatory environment. You should always keep an optimistic view because tomorrow will be better than today. 
