Wednesday, February 22, 2012

22022012


Nifty opened around yesterdays level and failed to go up.. FTC at PDH and DT area was a short signal. TP at PDL.. Market gave a long CT trade at PDL. One could have made a small profit only because of the location strength.Very difficult to take a short at  the third trade location because everybody will anticipate a range between PDL and PDH. Those who have taken this signal minted money. Now have a look at the NIFTY spot chart below

Some fast and furious moves originates from Big Round Numbers of spot Nifty

6 comments:

  1. Ummm... no, this is like bringing another variable and is like looking at 2-3 time frames which only adds confusion.

    I think it is better to stick to one time frame, one instrument.

    No spot chart!

    ReplyDelete
  2. SS

    I do not look at spot charts while trading. But I have noticed that some fast and furious moves originates from BRN of spot nifty, especially near expiry.It is a reality.I posted the spot chart to show this.
    When NF stalls at some insignificant levels I will have a look at the spot levels on my trading terminal and if it is around a spot BRN , it will give me more confidence to initiate a trade.

    ST

    ReplyDelete
  3. Very nice blog and one can feel the day trading experience well enough; came here through the link of Prof SS blog. Thanks.

    Regards

    Vinod

    ReplyDelete
  4. Thanks Vinod
    Please do visit and write your comments
    ST

    ReplyDelete
  5. SS
    My last line created confusion. Corrected it.

    ST

    ReplyDelete

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