Nifty
- Market Commentary
10:05 AM: After
reversal day, yesterday, nifty gapped up and sustained so far. IR (9883-9866)
formed with in yesterday zone. Above IRH, 9895-9905 is resistance zone. Below
IRL, 30 points slide possible.
10:55 AM: Trade 1 – BOF of IRH short at 9878 with
Initial SL 9885, FTA DL/IRL 12 points away… will scratch price reverses from
FTA
11:30 AM: Exited
with loss of 9 points
12:13 PM: Price
moving in a channel now, drawn it. My earlier trade looks mediocre now, after
channel is emerged
12:20 PM:
Channel’s upper boundary is close to resistance zone drawn in morning
(9895-9905), let’s see PA here.
13:55 PM: Price
gave TST to 9895 and broke channel on downside; not comfortable with PA so far…
watching sidelined. Looking for PA once price reached zone of 9895-9905
14:55 PM: Trade 2 – BPB of PDH long at 9908 with
Initial SL 9898, expecting short covering to cover yesterday’s Gap
14:58 PM: Moved
SL to 9904, below BO candle low
15:09 PM: Moved
SL t0 9911, below PB low
15:20 PM: Auto
squared off at 9918; exited with gain of 8 points
Points earned: -1
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