Intraday Trades - 31.07.2014

Intraday: Expiry Day. Price made a Range with Higher lows. Was planning to go long on BO of IRH after 3 Taps. It didn't trigger.
1) Short on BO of BRN into the Gap & Fluid. It halted at PDH, but kept on moving. Closed at 14:30 as was expecting some expiry drama thereafter which didn't happen.
Expiries are getting normal nowadays with respect of DPs..

Intraday Trades - 30.07.2014

Intraday: Traded Options today as they were available without premium. Mkt traded between IRH & PDL for a long time & i didn't fiddle in the middle. Waited on the sidelines.
1) Short on BPB of PDL. I expected it to go atleast to BRN. Stopped out.
2) Reversed to Long as BOF in calls. I was with 7800 calls bought at 37. Messed up my trailing SL orders & was out at 72. It went till 93. Although PDH was far away but didn't find any reliable signal to re enter.

Taps on DP

A Pattern, I have observed many times & am using it is TAPS on DP. Its coming frequently in Nifty nowadays. The criteria, i look for is:-
1) A Range Formation between 2 DPs.
2) Price starts knocking at one of the DPs (>2 times). The more the knocks, the better.
3) HL or LH formations as per the BO requirement. If the Taps are on DP above you, see for HL requirements & LH for Taps on DP below you.  A TRAP pattern will be an added advantage !!
4) Tails on that DP are better (For me, Tags on BB are equivalent).
5) Enter Above/ below the DP on BO of Candle Tail.
I will give few examples without BB from recent days..

a) See a Range marked with 2 DPs. We would have exited in this range having no position. Now, Price started making LH & tails on lower DP. Knocking started. Nearly 5 Taps on DP. A BO was evident in this case  & we can enter with confidence.

b) A Big Range formation. HL formation in Price in the range. Although a BOF in the starting, we would have exited earlier. 4 Taps on DP. we can go long on BO of upper DP.

c) A nice range after BOF, which would have made us out. Nice Taps (3 ~4) on upper DP. An entry on BO was a nice one !!

All these are recent charts of last week. hope you enjoyed..

Intraday Trades - 28.07.2014

Intraday:  Trend was Up for 5 days, but down on last trading day. Nifty open near PDC & formed a Range.

1) Short on BO of PDC. It formed a Tag & i got out at break even. but mkt didn't go up above PDC.

2) Again a Short on BPB of PDC. Closed at the touch of PDL zone. 

3) A Short on BPB of PDL. Closed at Day'd low. Price wandered there for some time. Was planning to take a short on hammers on UBB, but avoided due to proper space.

4) Long on BOF of RL. Closed with few points.

Intraday Trades - 25.07.2014

Moved for some personal work in 2nd half, so updated late..
Intraday:  Trend was Up, but Initial Range was with Down bias& a fluid was waiting.
1) Short on BO of IRH. Closed at BRN/ Previous High
2) Again a Short on break of Range Low. Closed at PDL.
no further trade.

Intraday Trades - 24.07.2014

Intraday: Trend is Up from few Days, but Nifty open below PDC, PDH. Yesterday was a Hammer on UBB in 15 min. It failed moving down by forming an Initial Range. Went Up to again test the PDH.
1) Short on TST of PDH, BRN with another Hammer in 15 min. Closed on the Tag on LBB. Price was making Higher lows & continuously testing the High.
2) Long on BO of BRN & all time High. Closed it in the first red candle as was stopped out.

Intraday Trades - 23.07.2014

Intraday: Nifty Open was at all Time High.
1) Took the BOF of BRN, Closed at PDH
2) Took another BOF at PDH. Closed when a Tag formed at UBB.
3) Took a BOF of Previous RH/ RL. It was a Shooting Star in 15 min. Closed when a Tag formed on UBB.

Intraday Trades - 22.07.2014

Intraday: Nifty Traded in a Range in the initial few minutes. Trend was Up, New Range was near PDH.
1) Took BPB at PDH. Closed in the Range. BB started ranging, so planned to take shorts.
2) Took a Short on BPB of RL. Closed at no loss.
3) Long on BOF of RL. Closed in the end.

Axis Bank didn't move breaking initial range, so no trade.

Intraday Trades - 21.07.2014

Intraday: A Ranging Day. Took two trades & got my SL hit.
1) Short on break of  PDH taking it as BPB. SL hit
2) Againg a Short on break of RL thinking it as Fluid. Closed with my SL.

Tomorrow will trade below stocks in the morning - UP if it trades above PDH & down if below PDL-
UP -  Axis Bank
Down -  Bank of Baroda,  SBIN,  CanBank

Intraday Trades - 18.07.2014

Intraday:  Was Expecting a big directional move, but mkt never behave when you expect. Daily MBB also took support reflecting strength. Today marked DP area instead of lines to avoid false moves.
1) Short on BOF of PDL. Closed at BRN
2) Long on BPB of PDL. Closed on break of tag candle in DP area.
No further trade as MBB wasn't supporting the BOF of PDH.

Intraday Trades - 17.07.2014

Positional: Expecting a Black Friday or Good Friday tomorrow. Lets seee...

Intraday: A Ranging Day & i was chopped beautifully..
1) Short on break of RL, as i expected a move in Fluid. Stopped out for 5 pts.
2) Long on BOF of RL, closed with 4 pts.
3) Long on break of PDH, was expecting a cigarette pattern. Again 10 pt lost.
4) Short on BOF of PDH. Closed at SL.

Today traded a stock LUPIN - Single trade (250 lot size)- Long on BO of Initial Range. Closed when range formed with 16 pts. No further trade, as i am planning for morning trade only.
other stocks didn't interest me as were below PDC.

Intraday trades - 16.07.2014

Intraday:  Today my bias was Up. Mkt open up, so was in a plan to buy at BPB of RH, but couldn't get.
1) Long on BOF of PDH as layer over layer. Closed when it didn't cross RH.
2) A Short on BOF of RH, see the glimpse of Inverted hammer in 15 min. Trade didn't work. Got out at no loss, as it was a CT trade.
3) A Long on BO of RH. Closed in the end.

TBP: For stock specific, I am planning to find out High Relative strength stocks for day trading. I will trade bullish stocks when Nifty is in Uptrend & Bearish when my bias is down for nifty. Criterion are- Like Daily Average Volume > 500000, Stock above MBB (20 MA), Stock in minor Uptrend for Bullish & minor downtrend for bearish trade. I will find out 3~4 stock everyday & will trade only opening range BO method for them. No other trade.
Your ideas are welcome..

Intraday Trades - 15.07.2014

Positional: Nifty started a relief rally  towards 7600- 7670 NF. My Plan is to Short near MBB positionally for atleast 150 ~ 200 pts. The stronger the rally, better the signals.. Bulls must be trapped..

Intraday: Was Expecting a 100 pt Tuesday today. Yesterday= Ranging Day, Gap Open with 1st Good Opening candle. My Bias was Bullish.
1) Long on break of 1st bar high. Closed when RH formed. Mkt didn't move higher, instead made a range. Avoided first break down as MBB was Up
2) Short on break of RL as BO was in Fluid/ Gap. Tgt was BRN but closed with 30 pts. This move moved price in Lower Ranges, where i started planning taking BOF of Range highs.
3) Short on BOF of BRN + PDH Layer over layer & BB ranging. SL hit & the last move was left due to RL RH (less space)

Intraday Trades - 14.07.2014

Intraday:  Tried MT4 today with 5 min charts-
1) BPB of PDL. Stopped out with 10 pts. Waited as i was expectecting Barberred wire around PDL.
2) Took a BOF of RH, but ended with no loss.
No further trade, mkt was choppy.

Intraday Trades - 08.07.2014

Intraday: Couldn't trade today as was not well. Will not trade tomorrow also.
Mkt open near PDH and went down. Yesterday Ranging session was indicating of a big move today.
1) A Probable BOF of BRN. To be closed at MBB above PDL.
2) Another Trade could be either BPB of PDL or RL. To be closed at BRN.

Intraday Trades - 07.07.2014

Intraday:   Trend = Up, Ranges = Up, so was having bullish bias. Tried only Longs. (removed PDH as too many lines). Price made a BOF of BRN, but didn't take due to space & bias.
1) Long on BOF of RL. SL hit
2) Again a Long on minor BOF, but as it was Tag on LBB in Ranging mkt. SL hit
3) Long on BOF of RL once again. Closed when 2nd attempt to cross BRN failed.

Intraday Trades - 04.07.2014

Intraday: Mkt was in Ranging mode from last few days with an Up Bias. As Price was in between yesterday's range, waited for it to hit any PDH/ PDL.
1) Short on BPB of PDL. Closed when 2nd push failed down at RL.
2) Long on BOF of BRN as it was in Fluid. It halted at PDL, but BB were clearly bullish. Closed at PDH.
Friday's must be like this to cover full week !!

Intraday trades - 03.07.2014

Intraday: A Gap Up, Trend was up, so was looking for a Long.
1) Long on pullback of PDH. Mkt didn't move further & i get out with my SL. It made me think that the people are long & have their SL below PDH.
2) Short on break of PDH. Closed at PDC, when price came back. was planning to go long above PDH in fluid, but it didn't trigger.
3) Again a short on break of range. Closed with few points.

Intraday Trades - 02.07.2014

Intraday: A Strong gap up but not strongly followed.. waited for initial range.
1) Long on BOF of RL after breaking RH. Closed at 2 red candles.
2) Again a Long on BOF, though it was risky. Could manage few points & closed at same RH as price halted there.

Intraday Trades - 01.07.2014

Intraday: A day with all Bad trades. Too many DPs around..
1) Short on break of RL. Stopped out. Waited as Barbered wire formed around PDH.
2) Long on BPB of RH. Again Stopped out
3) BOF of 2nd RH. Out at Breakeven.