Only Nifty: August 2017

Thursday, August 31, 2017

Nifty : 31 - Aug - 2017 (+7)

Market Commentary:

PreMarket :- Last 5 days range is 9942-9785

Case 1 : Staying above BRN - 9900 (Or) PDC - 9880 .. NF attempts PDH 9918

Case 2 : Staying above PDH 9918 .. NF attempts SR - 9942

Case 3 : Staying above PDL 9847.. NF attempts PDC - 9880, BRN - 9900, PDH - 9918

Case 4 : Staying below below PDH 9918.. NF attempts BRN - 9900, PDC - 9880, PDL 9847

Case 5 : Staying below PDL 9847.. NF attempts BRN - 9800, SS - 9785

Let's see where DO happen and IR forms… based on which case play out.. Trade location, Pattern, Entry will be decided.

9:35 AM : None of Pre-Market case validated. DO is near to PDC and IR 9890-9868 formed with in Yesterday’s closing range 9917-9880 (PDH-PDC)

9:39 AM : BOF of DO/IRL signal, but less space and very early to attempt. Will wait for price to consolidate and give clean signal

10:22 AM : Adjusted IR to 9890-9866, after price making small wicks below 9868

10:56 AM : Discarded IR and drawn channel

12:15 PM : Waited for price to reach PDL, but sudden reversal and price gone above DH

12:48 PM : TST to BRN and price stalled now, break below swing low 9887 may offer sharp fall

13:05 PM : Trade 1 : BOF of RH and TST of BRN short at 9887 with Initial SL 9895, 25 points fluid

13:50 PM : Exited with gain of 7 points

14:05 PM : Closing the day now, dont wanna trade expiry moves now

Points Earned :: +7

Wednesday, August 30, 2017

Nifty : 30 - Aug - 2017 (-9)

Market Commentary:

9:45 AM : Gap up and price not sustained PDH, placed BOF of PDH order at 9874

10:22 AM : Trade 1 : BOF of PDH short at 9874 with Initial SL 9886, FTA 9864 10 points away. Attempting with half of usual trade quantity as price oscillating around PDH for quite some time

11:05 AM : Moved SL to 9890, above day DH. Can afford this 16 points SL as i entered with half quantity

11:25 AM : Exited with loss of 9 points

11:37 AM : PDH not yet cracked in NS.. and no momentum seen after NF crossing DH

will attempt if BOF of DH short signal comes, again with half quantity

13:05 PM : 9917-9900 is new narrow range developed; will see PA after breaking RL/BRN

14:00 PM : Not comfortable with very narrow moves. Calling it a day.

Points Earned :: -9

Tuesday, August 29, 2017

Nifty : 29 - Aug - 2017 (-6)

Market Commentary:

9:45 AM : NF gap down below PDL and sustained. IRL broke on upside again. A bit confusing to take any action. Will wait for PB till PDL

9:50 AM : Below 9850, good fluid. But no entry for short yet

10:15 AM : Hesitated in taking BPB of 9850 signal, as price seems to be making channel move downside.

11:05 AM : 9834-47 is range formed. Will wait for PA at 9850 for next signal, bias is down side

11:20 AM : BOF of DL signal came, waited for swing high formation for confirmation, being counter trend. Not happened. Now i can only wait for PA at 9850

11:45 AM : Trade 1 : PP long at 9852 with Initial SL 9842, FTA 9862 which is swing high made earlier.

12:33 PM : Exited with loss of 6 points

12:48 PM : Skipped BPB of DL short signal as not convinced with pin bar formed while breaking DL.

14:15 PM : Missed short boat today, not expecting any trades now. Done.

Points Earned :: -6

Monday, August 28, 2017

Nifty : 28 - Aug - 2017 (+16)

Market Commentary:

9:36 AM - Trade 1 : BOF of PDH long at 9894 with Initial SL 9884, FTA BRN and DO near. Will scratch if didn't move in favour

10:10 AM: Moved SL to 9898, as price made a swing low and attempting to concur DH again

12:12 PM: Moved SL to 9914, below low of range BO candle

13:12 PM: Exited with gain of 18 points

14:08 PM: 2nd attempt push prices below BRN is failing, looking for BOF long entry

14:18 PM: Trade 2 : TST of BRN long at 9908 with Initial SL 9898, FTA 9920 12 points away, attempting with scratch mindset. (Trading with Half Quantity)

14:40 PM: Moved SL to 9905, below swing low made before price attempting to break 9920

14:55 PM: Exited with loss of 2 points; Done for today.

Points Earned :: +16

Friday, August 25, 2017

Thursday, August 24, 2017

Nifty : 24 - Aug - 2017 (-18)

Market Commentary:

9:48 AM: NF opened exactly at PDH, pulled back till PDC (RN in NS) and one failed attempt concur PDH is done.

9:59 AM: Broke PDC / IRL but not continued momentum, price back into range; BOF of IRL / PDC signal, but space is an issue.

10:08 AM: Trade 1: BOF of IRL/PDC long at 9865 with Initial SL 9854, FTA PDH 10 points away… traded with half quantity. Will look to add if price shows momentum above PDH/DH

10:27 AM: Exited with loss of 6 points

11:30 AM: BW around PDC.. 50 points fluid below DL.. will wait for PA at DH/DL now.

12:55 PM: Trade 2 : BPB of DH long at 9887 with Initial SL 9877, FTA BRN 13 points away

13:10 PM: Exited with loss of 12 points. 2 SL’s in row, closing the day.

Wednesday, August 23, 2017

Nifty : 23 - Aug - 2017 (No Trades)

Market Commentary:

9:40 AM : NF gapped above PDC / BRN.. sustained BRN so far. IR formed 9820-9800

9:46 AM: Above IRH, PDH at 9830, if price break and sustain PDH.. expecting good short covering rally; Contra view, if IRL broke.. Expecting PDC to hold.. Bulls may attempt a rescue after filling gap… If not, will wait for PA at PDL

10:14 AM: After TST to PDH, price reversed and back into IR again. Will have to see PA once it reaches IRL / BRN for any trade setup’s

10:15 AM: As long as BNS sustain above 24100 (PDH), no sharp fall expected in nifty as well. BN will hold nifty.

11:54 AM: Drawn newer small range 9820-10

12:35 PM: Not convinced with PA to enter short as price gave TST kind of setup at PDH, while bias is bullish. To trap longs, good BOF setup is required

13:28 PM: Waiting for PA at PDH/BRN.. Also DH/DL

14:24 PM: Badluck, was away from desk. Missed BOF of BRN/DL signal which i waited to trade all the day. Need to explore option of getting price alerts my SMS.