25072012

Nifty gaped down a little within previous day range. Bias was bearish. Question is whether the PDL will hold or not. BPB of the PDL gave a short signal.( Same thing happened a few days back . Do you remember ?) BRN is a cause for concern, but breaking out of the previous day range is a major transition.and further strong down move can be expected. TP around 5080

My expectation was that the last impulsive wave will act as a range and TST or BOF of Range Low/LOD  is a very high probability long trade location.But market did something else.BPB of BRN gave a long signal.. There was no reliable signal after that.