Nifty opened within previous day closing range and traded within it for the entire day. BOF of BRN/PDL gave a long signal. Scratched the trade as it did not move. BOF of range high gave a short. TP at BRN. Another long on the BOF of BRN also ended as a scratch trade.
Hi ST
ReplyDeleteWith BRN 7300 tested twice and a range day, are you expecting a break out of today's range on the upside tomorrow??
Thanks
TBP
Cant say.I do not try to predict the market.
DeleteTwo BOF of BRN was not able to drive price to the upside. This shows selling at higher levels.
All the events other than budget is over. Nifty may need some rest before going up it seems.
ST
Hi ST
ReplyDeleteNice trades. You traded the range extremes well. Mine first two were different than yours but end result was same. Did not make much. I was in opposite direction so missed those moves.
Thanks.
ST sir,
ReplyDeleteI also traded BOF of PDL...exited with 13 point gain... Noted ur trade on intra range.. So far i traded initial range only...
Wat do u mean by scratching trade means? Exiting with small profit/loss or exit cost to cost?
Rose Mary
DeleteScratching is exiting the trade without much damage if it is not moving in our favour
http://niftynirvana.blogspot.in/2013/01/scratch-and-win.html
Kindly go through all the important posts listed below the blog
ST
Sir,
ReplyDeleteyou have not drawn IRL today, any special reason ?
I skipped the short below IR as PDL/BRN was very close.
DeleteWent long on BOF of PDL on break of IRL
ST