10 - 03 - 2016

Market Commentary:

1. Open above PDH and sell off; 30 points red candle. Will act as MC?
2. Accepted below PDH; no PB to enter short; will wait for PA at BRN
3. Trade 1 (9:57 candle) : BPB short of BRN at 7494 with initial SL 7504; FTA is swing low which is 30 points away
4. Moved SL to 7490 (above 1st PB high after short entry)
5. 7467 is acting as resistance; which is yesterday's swing low
6. Will scratch the trade if sustaining above 7475 as NF not breaking RN and seems concurring 7467 (It's like i am keeping mental/soft SL, instead of physical.. let's see if this experiment turns good)
7. Moved soft SL from 7475 to 7450-55 zone (acting as flip now, time 12:38 PM) & placed physical SL at 7476
8. Yesterday after breaking 7450; nifty rallied almost 100 points.. so it is origin of significant move
9. A long can be attempted if if risk in favour; will wait for proper setup
10. Again resisted at 7467; Moved physical SL to 7468
11. Exited with gain of 24 points
12. Looks like replica of morning trade coming;
13. Trade 2 (2:12 PM candle) : BOF of BRN short at 7496 with initial SL 7505; not sure we call recent spike as free fall zone but will attempt and ready to scratch if proven wrong.
14. Moved SL to 7494, to cost (adjusted to brokerage)
15. Exited at cost
16. No more trades t BRN now & i don't expect any significant move now as NF in middle of prominent DP’s
17. Done for today

Net :  +24