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