30 - Jun - 2017 (-24)

Market Commentary

9:22 AM: Gap down below PDL/BRN and sharp 40 points fall in 1^st 3 candles. As price in sell zone, look to attempt short trade as BOF of RH or BPB of RL.

9:41 AM: 9485 is earlier low and 9490 is day’s high, look for rejection of prices from this zone

10:25 AM: 9490-58 is the range, will look for PA at DH/RH

11:17 AM: PP kind of setup emerging, A BO can be attempted. But price staying below PDL makes this counter trend. Also, there is no BOF at other end. Will attempt long if BPB pattern forms.

12:30 PM: Trade 1 – BOF of RH short at 9486 with Initial SL 9497, FTA 9475 (consolidation low before BO is 11 points away). Will look to scratch if didn’t break FTA.

13:10 PM: Exited with loss of 13 points

14:15 PM: Now price ranging between 9475-9500 and gave BOF of RL signal. But avoiding trades here as bias is still down and already took a hit. Will see if any low risk signal comes at DH/BRN.

14:43 PM: Trade 2 – BPB of DH/BRN long at 9505 with Initial SL 9496, FTA PDL 10 points away. Will scratch if PDL resists. Expecting short covering due to weekend and BOF of RL at other end giving confidence to attempt.

14:50 PM: Exited with loss of 11 points. Bad Day, done for today.

Points earned: -24

29 - Jun - 2017 (0)

Market Commentary

9:30 AM: Nifty opened counter trend gap up above, being expiry we can expect good short covering as well. Hesitated to enter long after 1^st PB at 9543 as SL is 15 points.

10:17 AM: Drawn range 9558-47, will look for long if BOF of RL signal comes. 40 points fluid above DH

12:30 PM: Price gave TST only to RL and broke again; missed the trade. I should develop the mindset of attempting trades with TST also, especially when price in trending mode with orderly pull backs.

13:03 PM: 50 points straight line fall, and price stalled around PDH now. BOF of PDH long can attempt. Currently BO itself not happened, its TST as of now. Don’t expect V shape reversal, will wait for better signal.

13:25 PM: Ignoring BPB short signal as SL is big

14:00 PM: Expecting good short covering above PDH/DO. will attempt long after PB

14:20 PM: Trade 1 – BOF of PDH long at 9525 with Initial SL 9517, FTA RN 9550 25 points away

14:40 PM: Moved SL to 9527, to cost.

15:00 PM: Exited at cost. Too much volatility, expiry lived up to its name J

Points earned: 0

28 - Jun - 2017 (-2)

Market Commentary

9:58 AM: IRL 9843 also PDL, IRH 9523 also the level acted as flip yesterday. IR is coinciding with yesterday’s closing range i.e. swing high above/below PDC

As price is with PDH/PDL zone, look to trade range extremes. Will look for PA when price reach IRH/IRL.

10:01 AM: Removed 9600 as DP, as I see 2 swing points either side and IR looks more prominent in taking trade decisions.

13:55 PM: Price broke DL/PDL, but failed to sustain and trading above PDL (adjust PDL to 9480)

14:07 PM: Trade 1 – BOF of PDL long at 9487 with Initial SL 9477, FTA BRN 12 points away. will move SL close to cost if price reversed from BRN swiftly.

14:23 PM: Moved SL to 8485, near to cost. As price struggling to sustain above BRN

14:48 PM: Moved SL to 9487, price unable to cross BRN

14:55 PM: Exited with loss of 2 points

Points earned: -2

27 - Jun - 2017 (No Trades)

Market Commentary

10:08 AM: Just opened chart, lot of action already. price broke BRN, PDC, PDL effortlessly. PB resisted at RN and price moving downwards again. Can only look for short entry as BOF of RH as bias is down & price trading below PDL. On hourly charts, earlier swings seen at 9545-9350.

10:37 AM: 9552-34 is range nifty traded, we can consider this as corrective wave in down trend... 9534 should act as flip now

11:00 AM: Price stalling around RL from last 30 minutes. not convince to attempt short at this point. Let’s see if price attempts to conquer MSP – 9550

11:30 AM: Drawn range as 9552-9522, let’s see if price attempts to concur MSP. look out for short entry if failed.

12:41 PM: BPB of RL (earlier DL) short at 9517 with Initial SL 9527, FTA 9500 NS 10 points away. Also, price already dropped 100 points from DH. Not confident on this signal.

12:48 PM: 2^nd push also failed to make new lows… price back to earlier range now. Let’s see if low risk counter trend long signal comes

13:45 PM: Skipped short at DL, as BRN NS and NF are very near

14:45 PM: Don’t expect any trades now. done for today. On hindsight BPB of RL was good signal to initiate short, hesitated as NS BRN, NF BRN near by.

23 - Jun - 2017 (No Trades)

Market Commentary

9:52 AM: Missed good setup for LOL short as BPB short of PDL, as I just opened chart. Will look for reversal trade as nifty seems to be reversing from 9600 and attempting to cross 9600 NS now

11:45 AM: No good setup to enter short or long after missing better setup of LOL short, price continuing downward journey

13:07 PM: Price settling above BRN now, not comfortable with long as HH made before breaking DL earlier, NS BRN are just above

13:13 PM: Adjusted PDL to 9619, instead of 9625…as price resisted here before breaking BRN earlier, good order flow may come above this

13:18 PM: Not comfortable with short at BRN, as price seems to be forming BW

14:17 PM: Removed 9600, 9610 (9600 NS) as DP’s as 2 swing points made above and below… these don’t act as DP’s any more

14:20 PM: PA bit confusing, now will only look how price behaves at PDL (9619). BOF of PDL short (Intraday Bias being down so far)? Or BPB of PDL long (short covering)?

15:30 PM: Done for today

22 - Jun - 2016 (+56)

Market Commentary

9:52 AM: Price gapped above PDH, but no momentum on upside so far. IR – 9682-9670. Will have to see PA at PDH, BOF of IRL/PDH would be good setup, but space is an issue. BPB short of PDH has FTA PDC and fluid below it.

10:58 AM: Price broke IRH and sustained, not comfortable with long here. Ignoring BPB long setup. My preference goes with BOF of RL which coinciding with PDH

11:38 AM: Price moved up without BOF setup as I am looking for and now settled above BRN as well; hopefully good momentum moves in coming days now. Nifty struck in 100 points range for last one month

12:35 PM: Trade 1 – BPB of BRN short at 9696 with initial SL 9704, FTA IRH 14 points away. small fluid giving confidence to attempt

13:40 PM: From DH, price making HH and HL, breach last higher high (9704) invalidates this current down move. Hence holding this level as SL, though no downside momentum

13:47 PM: Moved SL to 9697, near to cost and above recent swing point

13:54 PM: Moved SL to 9694 to cost, as price stalled at IRH and seems to be reversing

14:29 PM: Moved SL to 9688

14:33 PM: Moved SL to 9678; 40 points fluid below PDH

14:51 PM: Moved SL to 9675, high of PDH break down candle

15:05: Moved SL to 9638; nice fluid move

15:10: Exited with gain of 56 points

Points earned: +56

21 - Jun - 2017 (+17)

Market Commentary

9:45 AM: Gap down below PDL and price sustained as well. Will see for opportunity to enter short as BOF of RH

12:40 PM: 9643-27 is narrow range price trading, will see PA at extremes. Preferable to short as BOF of RH. BPB of RL short has FTA as DL very close

13:40 PM: BOF of RL opportunity also exists now. will attempt with half quantity if triggered. BO of low happened after enough consolidation, lack of momentum and BOF signal now adds strength to bulls

14:00 PM: Trade 1 – BOF of RL long at 9630 with Initial SL 9623, FTA is RH 13 points away. Will scratch if doesn’t work

14:10 PM: Moved SL to 9632, to cost

14:20 PM: Moved SL to 9640

14:40 PM: Moved SL to 9649, below swing low formed before attempting PDL

15:15 PM: Auto squared off with gain of 17 points

Points earned: +17

19 - Jun - 2017 (No Trades)

Market Commentary

Pre-Market:

PDL would be key now, below which 9550-9350 seems possible

If Gap up, range continues... resistances are at 9660-9700

9:56 AM: Price gapped above PDH and sustaining now. Resistance zone 9650-60, two trade possibilities... BOF of PDH long (better if range forms with RL being PDH) Or BOF of DH (with in zone of 9650-60) … will only attempt counter short if R:R is good and price rejection seems strong

14:03 PM: Was not ready for BO signal, missed the trade. 

15-Jun-2017 (-14)

Market Commentary

Pre-Market:

Above PDH, nifty may attempt BRN (9700)

Below PDH, nifty may test another BRN (9600)

No directional big moves until nifty breaking this zone

9:30 AM: Gap down of 20 points and price struggling to cross 9640 level. which acted as resistance yesterday

10:07 AM: IR (9621-9608). Price broke IRH, but no momentum

10:17 AM: Trade 1 – BOF of IRH short at 9620 with Initial SL 9626, FTA DL which is 12 points away (took this with half of usual lot size)

10:52 AM: Exited with loss of 4 points (Note: I am adjusting loss/gain against usual trade quantity, for better tracking)

12:30 PM: Not comfortable with narrow range moves, will wait for PA at PDL/BRN

13:55 PM: Trade 2 – BOF of BRN long at 9604 with Initial SL 9596, FTA DH 22 points away.

14:10 PM: No buying momentum; but will take chance as trade location is good (PDL and range low) and risk with in limit

14:25 PM: Exited with loss of 10 points

14:30 PM: Closing the day, as I may get into revenge trading now.

Points earned: -14

14 - Jun - 2017 (-20)

Market Commentary

Pre-Market:

BRN would be key to watch today, as price close lower range where it is trading in last 2 weeks.

In case of gap down below BRN... watch out for PA after price pulls back towards BRN/PDL zone

In case of gap up above BRN... watch out for long opportunity if PB/BOF comes near PDL/BRN

9:40 AM: Trade1 – BOF of LOL PDL/BRN long at 9618 with Initial SL 9607, FTA is 9625 (DH and yesterday swing point) which is just 7 points away. Will look to scratch if order flow (due to short covering) doesn’t push prices up above DH

9:53 AM: Exited with loss of 13 points

9:55 AM: Removed PDC, as I see two swing points above and below it, no more relevant DP

9:59 AM: On 15 minutes’ chart, I see swing lows at 9684 and 9650, could be potential targets if price sustains below BRN... if reverses from here, a long opportunity above PDL can be considered, but will wait for some consolidation as price hit one SL just now

10:25 AM: Expecting fresh buys only above 9620-25 zone (coinciding with yesterday’s closing range and DH) … Or will have to see if PA if BRN broke again. No fiddling in middle

10:31 AM: Removed PDL as DP, as price started moving back and forth around it... and I don’t expect to trade any trade signal around it

11:55 AM: 2 attempts to break BRN didn’t work so far, will wait for PA at DH/BRN.

13:35 PM: Stayed away from desk till now, there was a BO trade opportunity. but I would have missed as I won’t be ready for BO trade after one loosing trade

14:10 PM: Trade 2 – TST of 9640 short at 9635 with Initial SL 9642, will scratch if price reverse from 9625-20. Trading this half of regular lot size, being counter trend

14:45 PM: Exited with loss of 12 points

Points earned: -20

13 - Jun - 2017 (+12)

Market Commentary

Pre-Market:

Nifty trading in 2 ranges from last 2 weeks. 9600-9640 & 9640-9700

Yesterday touched low of range 2, but closed above it.

If gap up, should see if sustain above PDH and trade in range 1 (Or) if gap down, should see if sustain below PDL/BRN

9:40 AM: Price gapped above PDH and sustained so far, will see PA if pulled back to PDH now

10:00 AM: Price reached PDH with bearish bias, after strong rejection from RN. will wait for better setup to take any trade decision

10:19 AM: Potential trade - BOB of PDH short at 9633 with Initial SL 9646, FTA PDC 13 points away. Not a good R:R

10:50 AM: Not comfortable in taking BOF of PDH long, as price making narrowed moves and tail bar at open makes me nervious with long attempt at this juncture

14:00 PM: Placed BOF of PDH long at 9645

14:20 PM: Cancelled as price sustained below PDH long

13:35 PM: Trade1: BPB of PDH short at 9637 with Initial SL 9645, FTA PDC 17 points away

14:40 PM: Moved SL to 9641 once price reaches PDC

14:54 PM: Moved SL to 9627 as price settling below PDC

15:00 PM: Moved SL to 9623

15:10 PM: Exited with gain of 12 points

Points earned: +12

05 - Jun - 2017

Market Commentary

10:00 AM: Price broke PDH after one hour of consolidation around it. Let’s see if it sustains

10:21 AM: Not convinced with taking long in this slow-paced movements. will wait for PA at PDH

10:44 AM: Drawn rectangle for range 9678-70

11:52 AM: Day turning out trending day, small ranges forming respecting to lower range highs.

Don’t think I get an opportunity to trade, unless price reverse towards PDH

12:45 PM: Drawn rectangle for range 9682-9697. Let’s see if BOF of RL opportunity comes

13:21 PM: Thought of attempting BOF of RL, but seeing price sustained below RL for more than 10 minutes, better to stay away. will wait for PA at PDH. Removed rectangles/ranges, as these are no more relevant now as price traversed back and forth.

14:55 PM: Done for today

Points earned: 0

01 - Jun - 2017

Market Commentary

10:00 AM: 9632-14 is the range so far, price trading in very narrow ranges again. Will wait till low risk trade setup emerges.

10:50 AM: Price broke range and attempted PDH, unable to sustain and reversed toll RH again. Not going for BOF of RH signal (if comes) as trend is up and better place to initiate short is PDH, will wait for PA again at PDH again.

12:33 PM: Without attempting to concur PDH, price broke DL/PDL/BRN now

13:00 PM: Seems pricing making BW around PDL, not a convincing setup to trade long now

14:10 PM: V shaped recovery, missed as no reliable setup formed for long. Now can only wait for PA at DH

Points earned: 0