Intraday: A Big gap Down. As mentioned in yesterday post, Nifty didn't go below 7500.. The Gap down lead to price in Old range. There was an opportunity to go long on DL within the range, which i avoided as it seemed counter trend.
1) Long on BPB of RL marked with pink line.
2) Closed the longs on PDH & Short as a strong BOF. Closed when price didn't entered lower range and got rejected on RL.
Overall, mkt is in a Big Range. downmove was convincing today but still its above lower range. Today's DL (tomorrows PDL) break down in 5 min will make me enter into shorts tomorrow. Its more of a Taps on DP pattern in bigger timeframe for atleast 7220 NS..
1) Long on BPB of RL marked with pink line.
2) Closed the longs on PDH & Short as a strong BOF. Closed when price didn't entered lower range and got rejected on RL.
Overall, mkt is in a Big Range. downmove was convincing today but still its above lower range. Today's DL (tomorrows PDL) break down in 5 min will make me enter into shorts tomorrow. Its more of a Taps on DP pattern in bigger timeframe for atleast 7220 NS..
Excellent
ReplyDeleteRegards,
Veer
Thanks, Still improvising..
DeleteDevenbhai, you keep things so simple and act on it. Good going.
ReplyDeleteOne request, kindly update your blog with current days trade as early as possible after market close.
Regards,
Point taken. Will try to do that as i generally take a break after market closure..
DeleteThanks,