Intraday: Election day ! Waited till 12.00, till the Euphoria settled down. BJP appeared as winner as expected. Mkt was already Up from last few days, no Upper circuit. Profit booking also started at BRN 7600. Chart was showing all blue lines- BRNs as ranges. A big red candle of more than 100 pts made me think of eating SLs but kept my patience til 12:30.
1) Short by taking Puts on BPB of BRN 7400 & day's open. Closed at hammer on 7200. Candles are appearing small, but were too big to handle the SL. Was really scared due to volatility & counter trend move. Mkt could jump my SL, so my trigger & selling price was having a difference of 10 pts ;)
2) Long on the break of recent pivot after a stoppage on BRN 7200. I was expecting it to go beyond 7400, as was appearing as many people have shorted & will be trapped. Closed, when it was unable to cross 7300.
Tough day, but level respected in 2nd half !! Now, Daily chart is with a Big Inverted hammer but Close outside BB. Bulls going long today are now Trapped. I am expecting next few days as Ranging... Lets see, how mkt unfolds..
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1) Short by taking Puts on BPB of BRN 7400 & day's open. Closed at hammer on 7200. Candles are appearing small, but were too big to handle the SL. Was really scared due to volatility & counter trend move. Mkt could jump my SL, so my trigger & selling price was having a difference of 10 pts ;)
2) Long on the break of recent pivot after a stoppage on BRN 7200. I was expecting it to go beyond 7400, as was appearing as many people have shorted & will be trapped. Closed, when it was unable to cross 7300.
Tough day, but level respected in 2nd half !! Now, Daily chart is with a Big Inverted hammer but Close outside BB. Bulls going long today are now Trapped. I am expecting next few days as Ranging... Lets see, how mkt unfolds..
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