31 - May - 2017

Market Commentary

10:05 AM: IR (9632-10) formed with in yesterday range (coinciding with closing range). Will wait for PA after breaking PDH

10:25 AM: Removed PDC and marked range as 9630-9612, RH is DH and PDH

11:40 AM: Trade 1: BOF of RL low at 9615 with Initial SL 9608, FTA RH/DH/PDH 15 points away.

12:30 PM: Moved SL to 9617, breakeven

13:55 PM: Exited at cost;

14:15 PM: Trade 2: BO of PDH at 9633 with initial SL 9624; with scratch mind set

14:36 PM: Moved SL to 9630 as no momentum

14:55 PM: Exited with loss of 5 points

Points earned: -5

30 - May - 2017

Market Commentary

9:48 AM: DO below yesterday closing range, but price managed to spike above BRN and sustaining now. Will wait for range formation for further clues

10:25 AM: With increased volumes, price broke PDC and BRN, let’s see PA at DL.

10:38 AM: Ignored BPB short of BRN signal as DL is just 10 point away;

11:16 AM: Removed PDC and BRN DP’s as they lost relevance after price traversing up and down through…will look to fade range 9624-9584, if low risk setup emerges.

15:10 PM: Price broke narrow range too late; not having any conviction to trade now.

29 - May - 2017 (Nifty)

Market Commentary

10:15 AM: DO near PDC and sharp up move above BRN, followed by sharp fall till RN now. Price didn’t give any opportunity at PDH for safer entry.

10:57 AM: BOF of DO/PDC short placed at 9565

11:03 AM: Cancelled short order after 2 green candles above PDC; will wait for PA at PDH

11:31 AM: Trade 1 – BOF of PDH short at 9582 with Initial SL 9591, FTA PDC/DO is 12 points away, will scratch if trade doesn’t move in favor fast

11:48 AM: Exited with loss of 11 points; price shooted up till BRN and reversing with same force. Suspecting BW, will stay out till some clear signal comes.

12:47 PM: A bit confused on PA today, will attempt trade only if any low risk tradable setup at DH/DL now

14:00 PM: Price settled above DH now, not expecting any trades for today

Points earned: -11

26 - May - 2017 (Nifty)

Market Commentary

10:00 AM: Just started watching nifty, DO near PDC. price able to move above PDC/BRN/PDH in no time and sustaining.

11:05 AM: Waited for price to give some BOF of RL signal to attempt, not happened and broke DH/RH now

12:05 PM: Extended range boundaries 9546-9525.Waiting for price to reach lower range

14:25 PM: Price traded in 4 ranges so far in trending mode, waited for low risk BOF of RL entry. not happened

Points earned: 0

25 - May - 2017 (Nifty)

Market Commentary

9:20 AM: DO above PDC, with in yesterday range. IR (9400-9380) formed above closing range. Will wait for range formation.

10:12 AM: Price broke IR, but failed to sustain. Will wait for one more failed attempt to initiate BOF of IRH/BRN short

10:20 AM: Price sustaining above IRH/BRN now. BPB of BRN long possibility as FTA is 35 points away & expecting short covering rally.

10:40 AM: Trade 1 – BPB of IRH/BRN long at 9408 with initial SL 9398, FTA is PDH 35 points away

10:55 AM: Moved SL to 9404, below swing low

12:04 PM: Moved SL to 9406

12:19 PM: Moved SL to 9409

12:44 PM: Exited with loss of 1 point; 9421-05 is the range formed in last 2 hours, will wait for PA at DH/RH for next clues

14:10 PM: Above PDH, price spiked 30 points in single candle.

15:10 PM: Unfortunately, price rallied 100 points after taking me out.

Points earned: -1

24 - May - 2017 (Nifty)

Market Commentary

9:50 AM: DO above PDC, with in PDH-PDL. and IR formed with in yesterday closing range.

9:54 AM: Avoided BPB of BRN short entry below IRL as PDC just few points away & not expecting fall immediately now after volatile session yesterday. Will wait for some consolidation.

10:44 AM: 9418-9393 is range so far. Will look for BOF of RH short opportunity

11:16 AM: Price broke range… reversed and stalled at 9420. Which is earlier high. BOF of RH short possibility at 9416 (below BO candle low) with initial SL 9421… FTA BRN which is 16 points away

11:31 AM: Trade 1 – BOF of RH short at 9416 with initial SL 9422. FTA BRN

11:50 AM: Moved SL to 9418 as no selling pressure on second push

12:00 PM: Moved SL to 9414, to cost as price stalling around BRN

12:38 PM: Moved SL to 9407 after price sustaining below BRN. Now below DL, PDC and PDL there. Let’s see how price react at this juncture.

12:54 PM: Quite volatile; lucky to have SL honored by 0.85 point

13:15 PM: Moved SL to 9382, above PDL. Price stalled at RN now

13:45 PM: Exited with gain of 32 points

14:05 PM: Ignored BOF of LOL PDL/PDC as lots of volatility going on; will wait for some consolidation

14:35 PM: Trade 2 - BOF of DL long at 9358 with initial SL 9347, FTA PDL 20 points away. Attempting this as critical mass exit may favor bulls.

14:45 PM: Exited with loss of 13 points. Done for today

                                                        

Points earned: +19

23 - May - 2017 (Nifty)

Market Commentary

10:10 AM: Sharp fall from DO, PDC/PDL/BRN broke and took support from 9380-88 zone where price took stiff resistance earlier. Checked in day chart NF. Will wait for PA at BRN or PDL if some bounce come.

10:58 AM: Suspecting BW formation around BRN (9400). If not, there could be BOF of Shot below 9396 with Initial SL 9407 FTA DL which is 15 points away.

11:20 AM: Ignored BOF of BRN signal as I was expecting BW formation

13:05 PM: Waited for BOF of RH entry, not happened.

14:00 PM: Price broke PDL, but reversed immediately. will wait for swing low formation for short entry

14:15 PM: Trade 1 – BOF of PDL long at 9430 with initial SL 9438, FTA BRN 30 points away

14:40 PM: Moved SL to 9420 as price attempting reversal from BRN

14:54 PM: Moved SL to 9412

14:56 PM: Exited with gain of 16 points

Points earned: +16

22 - May - 2017 (Nifty)

Market Commentary

9:57 AM: DO with in PDH/PDL, above PDC. Price approaching 9455 level, which acted as resistance on Friday, it may act as flip now.

13:40 PM: Was away from desk till now; price broke 9455 and sustained below. Can only wait for PA at 9455 if price reaches back

14:20 PM: Trade 1 - Entered short below RN as BOF of flip (9455), with initial Sl 9462. FTA DL 20 points away.

14:52 PM: Moved SL to 9447, break even as price reversed from FTA

14:58 PM: Trail SL hit it cost. Done for today.

Points earned: -  0

18 - May - 2017 (Nifty)

Market Commentary

9:35 AM: Gap down, but price recovered fast till PDL/BRN now

10:05 AM: Missed nice fall, as I hesitated in taking BOF short at PDL/BRN. Will wait for range formation and look to sell RH short (or) look for long opportunity if price settles above PDL/BRN in later part of day.

13:55 PM: Price approaching DL through channel formation

14:36 PM: Placed BOF of RL/DL long as risk is within limits, but market choose to go in downwards direction only. Cancelled ordered now.