Friday, September 21, 2012

21092012


Nifty broke above PDH and spiked. Could not enter on the first pullback as I expected a deeper one. Entered long on second pullback. As expected it channeled. I was expecting the channel till BRN.But it broke BRN and moved up. Now I was looking for a short.I expected a BPB when price broke below BRN.It happened to be a BOF. I was anticipating a BOF of  HOD like yesterday. Price could not reach HOD. BRN of Spot Nifty was giving stiff resistance at Nifty Future 5720.Always respect BRN of Nifty Spot and Futures.

5 comments:

  1. hey your blog design is very nice, clean and fresh and with updated content, make people feel peace and I always like browsing your site.

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  2. Observation... Whenever a the first bar after a Nifty Gap-up is a green bar of decent size, then Nifty continues to move up.

    But if the bar following the Gap-up is a red bar, then the direction is unclear.

    ReplyDelete
  3. @ Anon

    Thanks.

    @Augu Bhai
    Thanks. Helpful observation
    Will pay attention to this

    ST

    ReplyDelete
  4. will not the color of the bar depend on the interval just wondering?...This goes for all signals too - eg. A short ma may give a buy, but another time frame may give a sell. regards rb

    ReplyDelete
  5. Raghu

    Yes. Horizontal Price levels only matter. Everything else is just illusions

    St

    ReplyDelete

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