Nifty : 07 - Mar - 2019

Market Commentary

9:45 AM :  

NF opened gap up and DO=DH

I was expecting a long and break through earlier peak, but selling from opening time
forced to change view now

Placed BOF of PDH/BRN Short order below DL

Long bias only after crossing DO=DH as of now

If price choose to form range before making any move. Will wait on sidelines

9:56 AM :

Now range forming, will keep my buy order for PUT active till NF move beyond 11089
(PB high after making DL in 3rd candle)

10:06 AM:

Cancelled PUT buy order

Now i will wait for PA at extremes,, DH/DL or IR.

Let the market tell us what to do next.. Will it break out of range and ask us to trade in direction of BO
or it will tell us to fade extremes and do range play. Lets see!

11:20 AM:

NF attempted to break DL, but failed to sustain.

Will see PA once it crossed PDH (also smaller RH), if a long possible above 11100 with FTA DH,,
can take it. Will decide depend on how price approach there.

1:13 PM:

Attempted short below RL, when price seems to be sustaining below the level which
it took support for longer time.

But it failed to move, scratched.

Now, will wait for PA at PDL-11100 zone

So, today is seller’s day.

14:50

As per above plan, took CE once price accepted above PDH-BRN,
added more once it got accepted above DH.. but it failed to move further. Exited with loss.