10 - 02 - 2016 (Nifty)

1. Full gap down of 60 points
2. IR 7293-65
3. 7250 is earlier low, let’s see if it offer some support
4. Two ranges formed so far; IR 7293-65 & 7265-31
5. Will look to sell RH as NF in sell zone; No longs unless sharp BOF at LOD happen
6. PP long above RN seems good trade
7. Trade 1: Long at 7255 with initial SL 7248
8. TST to RH and reversing; will take risk of holding this trade as risk is in my acceptable limit
9. Moved SL to 7255
10. Exited with loss of 2 points
11. Even if I stick to original plan of selling RH, there is no swing point formed to initiate short after BOF of RH... hence no regrets J
12. Avoiding BOF of RH short, as FTA is just 7 points away and SL 8 points away
13. Not comfortable trading this small range; break till PDL/LOD comes into picture
14. 7250 acting as flip so far the day
15. Trade 2: BOF of LOD long at 7239 (above high of BO candle) with initial SL 7227;
16. FTA 7250 away 11 points, would scratch is failed to stay above RN
17. Moved SL to 7248
18. Moved SL to 7258; below low made before broking range
19. Exited with gain of 17 points
20. Done for the day, no more trades after 3:00

Net Gain: +15