Monday, April 17, 2017

17 - Apr - 2017 (Nifty)



Market Commentary:

9:55: DO below PDL, price couldn’t sustain PDL later and fall sharply to RN and hovering around.

10:05: As price is in sell zone (i.e. below PDL) preferable trade is short as BOF of RH. Will wait for range formation now

15:05: Range bond market at its best. Done for today.

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3 comments:

  1. ChiragApril 18, 2017 at 8:33 AM

    Hi,
    Thanks for the chart.
    Does BOF of RN becomes low probability trade because bias is down?

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    Replies
    1. Only NiftyApril 18, 2017 at 11:28 PM

      chirag,
      i use RN for managing trades only, not for entry.

      Delete
    2. ChiragApril 19, 2017 at 10:51 AM

      Good point. Only BRNs have high OI in options. I was also thinking RNs can be used as DP if it is acting as one on a giving trading day as RH/RL.

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