Tuesday, January 1, 2013

01012013

Nifty gaped up above PDH. Expectation was a channel move after the spike. But hesitated due to the Big Big BRN 6000. IR formed. FTC above BRN/IRH gave a short signal which did not move. Another BOF of this level also did not help. Finally stopped out of the trade.

3 comments:

  1. ST Sir,
    If BRN was not around or NF would have opened above BRN then we would have gone long on the first PB??

    ReplyDelete
  2. Anurag

    Depends on price action

    Gap + initial move in the same direction+ No DP barrier for the move
    Will expect channel and go long on 1PB

    Gap+ Initial move against gap. Will wait for IR to form.

    Managing risk is the first priority. Always hide your initial stop behind a strong level

    ST

    ReplyDelete
  3. Exactly sir, have to see the price action. For eg: today was gap up but price action suggested different approach.

    My query was specifically on yesterday's price action, got my answer in your today's reply :) Thanks a lot!!

    ReplyDelete

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