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.