Tuesday, May 27, 2014

27052014



Nifty opened within previous day closing range and traded within it for the entire day. BOF of BRN/PDL gave a long signal. Scratched the trade as it did not move. BOF of range high gave a short. TP at BRN. Another long on the BOF of BRN also ended as a scratch trade.

7 comments:

  1. Hi ST
    With BRN 7300 tested twice and a range day, are you expecting a break out of today's range on the upside tomorrow??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. Cant say.I do not try to predict the market.
      Two BOF of BRN was not able to drive price to the upside. This shows selling at higher levels.
      All the events other than budget is over. Nifty may need some rest before going up it seems.

      ST

      Delete
  2. Hi ST

    Nice trades. You traded the range extremes well. Mine first two were different than yours but end result was same. Did not make much. I was in opposite direction so missed those moves.

    Thanks.

    ReplyDelete
  3. ST sir,

    I also traded BOF of PDL...exited with 13 point gain... Noted ur trade on intra range.. So far i traded initial range only...

    Wat do u mean by scratching trade means? Exiting with small profit/loss or exit cost to cost?

    ReplyDelete
    Replies
    1. Rose Mary

      Scratching is exiting the trade without much damage if it is not moving in our favour

      http://niftynirvana.blogspot.in/2013/01/scratch-and-win.html

      Kindly go through all the important posts listed below the blog

      ST

      Delete
  4. Sir,
    you have not drawn IRL today, any special reason ?

    ReplyDelete
    Replies
    1. I skipped the short below IR as PDL/BRN was very close.
      Went long on BOF of PDL on break of IRL

      ST

      Delete

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