Friday, August 17, 2012

17082012

Nifty opened near PDC and went up straight. Skipped BPB of BRN as PDH was close. When it broke PDH , it had run almost 40 points and I expected a range. Price made a Barbed wire around PDH. BOF of Range low gave a long signal which did not move Scratched the trade .BOF of HOD gave a short and it moved very well.BPB of range low was a good location to add.Anybody paid attention to WWAP.during the fall ?

7 comments:

  1. Observe the Nifty Spot high was 5399 just 1 point short of 5400. Also failure of break out from a tight trading range (5406 to 5415) leads to a powerful move in the other direction. The pullback to 5406 was the best trade of the day.

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  2. Ramesh

    BRN On Nifty Spot is very important. I have written about it in an earlier post

    Read it here

    ST

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  3. Sir. if price discovery is first on NS then why dont we use NS 3min chart instead of NF chart??
    Yr method has changed the why i look at charts..its very helpful..thx

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  4. Bizagra
    It is Ok if you are a position trader.In 3M charts discount and premium fluctuations and time lag will wipe you out

    ST

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  5. That is correct. If you place the Nifty Spot and Nifty Future chart there was a Divergence. But this happens only at turning points or trend change. Nifty Spot was in a downward channel while Nifty Future was in a trading range. When Nifty Future touched 5415 the first time Nifty Spot was 5398 and when Nifty Future touched 5425 at that time Nifty Spot just moved 1 point above the days high at 5399.

    The breakout in Nifty Future above 5415 was a bull trap.

    But this happens once in a while so i agree there is no need to track Nifty Spot 3-min chart continuously. But if price action is puzzling then one can glance at the Nifty Spot Chart for clarity.

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  6. Sir, yr method is helping me very much in my positional. Now i trades my positional intraday with this method..:))Thx

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  7. Wish u been giving live calls n guidance ...

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