Wednesday, April 3, 2013

03042013

Nifty opened within previous day range.After the small gap down it was slowly moving up. I was looking to short on gap closure or PDH. But Nifty formed a range below these levels. BOF of range high gave a short signal..Scratched the trade on BOF of Range Low/DO. Later Nifty broke the range low and pulled back giving a nice BPB trade. Nice move down PDL and BRN did not lend any support

3 comments:

  1. Dear ST.

    It was a nice day finally. I was also not able to hold it when it struggled in range low. Later again shorted on the break down, which made the day proud.

    Cheers.

    ReplyDelete
  2. I was looking to short on gap closure or PDH - WHY ?

    How did u conclude in the last trade it wud move so down ?

    ReplyDelete
  3. @ Murali

    Good

    @ ratnakar

    Gap down, Bias was bearish . Counter trend move may stall and reverse at a resistance. So either PDC or PDH may halt the up move.

    I expected a move to PDL. Maximum BRN. Market was kind enough to give some extra bonus

    ST

    ReplyDelete

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