Nifty : 28 - Jul - 2017 (+16)

03 - Jul - 2017 (+17)

Market Commentary

9:34 AM: Counter trend gap up after attempting reversal pattern on Friday, but upper long tail bar formed at open and after PB. prices not moving quickly above swing high. will wait for consolidation and range formation

9:39 AM: IR (9555-39) formed above PDH and closing range… bias is bullish as of now

9:58 AM: Price gave TST and gave BO above IRH, both signal I was not ready to take. BPB and BOF signals were easy to take as they come with confirmation.

10:46 AM: Seems day going to be Type 1 trend day, unfortunately couldn’t take an early entry.

12:00 PM: Waited for TST to BRN before placing order, price moved with no PB

13:40 PM: Looking for BOF of MSP/BRN long signal, but price seems to be sustaining below

14:10 PM: Trade 1 – BOF of MSP/BRJN long at 9605 with Initial SL 9696, FTA DH 20 points away (This is good example for TRAP pattern)

14:18 PM: Moved SL to 9598

14:27 PM: Moved SL to 9605, near to cost

14:50 PM: Moved SL to 9607, to cost.

15:22 PM: Auto squared off at 9624

Points earned: +17