Monday, November 12, 2012

12112012

Nifty opened within previous day range. Previous days last down move acted as a range. FTC above IR high gave a short signal. TP at PDL. Did not attempt the BOF  of  PDL

2 comments:

  1. Sir, Why didn't you attempt the sell signal of retest after breaking the PDL

    ReplyDelete
  2. Anon
    1.After the previous days down move I expected a ranging market
    2.Due to Diwali, There will not be much commitment from bears.
    3.I prefer to enter early on a trend move. This is the second BPB, the first one being BPB of IRL
    4.Price has already moved 30 points from the high. Early entrants will start covering.
    5.Breakout of PDL did not extent beyond the breakout bar. No followup selling.
    6.Pull back retraced above the BRN 5700 and refused to go below it.
    7.This one was not a BPB , but LOL breakout failure of PDL/BRN
    Hope this helps

    ST

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