There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits

Wednesday, March 4, 2015

04032015

Nifty gaped up above PDH. Found support at BRN. Went long on TST of BRN as bias was bullish. Stopped out. Price broke below BRN and bounced from PDH. Short on TST of BRN. Scratched it. Nifty traded between 9075 and 9100 for a while. I thought it will break above BRN. I kept a PP order, but did not trigger. Suddenly it broke down and pulled back at PDH. Short below RN 9050. this one gave 100 points. TP at 8950
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11 comments:

  1. UnknownMarch 4, 2015 at 4:04 PM

    ST sir
    same as you thought of but after breaking of PDH i was confirmed of breaking of market but not such manner any way i am now thinking like you do so once again for teaching such a style

    ReplyDelete
    Replies
    1. SMART TraderMarch 4, 2015 at 7:17 PM

      Go with the market bias. Best trades come when a counter bias move stalls and reverses

      ST

      Delete
  2. Uday DaveMarch 4, 2015 at 6:17 PM

    Hello ST sir

    Nice to see your trades. In the morning I did one trade after a very long break. Missed the action in the afternoon. Wanted to ask, was it a exhaustion gap today indicating short term reversal?

    URD

    ReplyDelete
    Replies
    1. SMART TraderMarch 4, 2015 at 7:15 PM

      I think so. It was a BOF of 9000 in NF as well as NS. Todays candle is a bearish engulfing.
      It may try a pull back to 9000 and sell off again. Budget is over and even RBI rate cut failed to enthuse market
      Likely to see a correction now or a range bound market till annual results start flowing.Set backs of Govt in upper house will also add to the bearishness I feel. Sounds like an analyst ?

      ST

      Delete
    2. Uday DaveMarch 4, 2015 at 8:09 PM

      Sir,

      Not at all. You summarized the situation well. There was a similar kind of sell off from the full gap up open at end of Jan. Price action that day was the same like today. Lets see what is there in the store...

      URD

      Delete
    3. BhavirMarch 4, 2015 at 11:26 PM

      Totally sound like an analyst ST! Alternate profession ;)

      Delete
  3. sqlfixMarch 4, 2015 at 6:46 PM

    Sir,
    My chart shows nifty reached 9022 at 12:06 PM However your charts show different price. Here is the link.
    http://imgur.com/gallery/d572Fok/new

    ReplyDelete
    Replies
    1. NagendraMarch 4, 2015 at 7:10 PM

      You are refering to spot nifty. ST chart is nifty futures.

      Delete
    2. SMART TraderMarch 4, 2015 at 7:24 PM

      You are looking at the Nifty Index Chart
      Here we trade Nifty Futures and use Current month Future contract chart

      ST

      Delete
  4. manasMarch 4, 2015 at 10:32 PM

    hi st
    sir will it be wise to play the mkt only on one side . possibility of trade left will also be less ..as i am planning to play mkts only for sell side ...on long side move is most of the time slow and many times move only after taking trailng sl .

    ReplyDelete
    Replies
    1. SMART TraderMarch 4, 2015 at 10:47 PM

      Markets behave like that
      Bulls climb the stairs and Bears jump out the window
      IMHO better to trade the trend

      ST

      Delete

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