Nifty : 23 - July - 2019

EOD Observation :

I had a plan to short if NF gets rejected from PDH, but it did near TST and reversed swiftly.
I would have caught the fall had i entered half position below existing swing low, instead of waiting for new lower swing low formation. Hesitated and missed the move.

Nifty : 03 - Nov - 2017 (No Trades)

Market Commentary:

10:15 AM - NF opened near to PDH, 1st candle acted as MC … thought of attempting BPB of PDH short below IRL.. but hesitated seeing PDC just away.. That trade worked well breaking PDC, PDL swiftly.. Later NF gave BOF of PDL signal, but not expecting retracement of sharp fall with out a bit consolidation.. Hence avoided this signal as well. Expecting range formation between PDC and PDL (or DL) .. will look to fade range extremes.. Preferably BOF of RH short.

10:41 AM - No range as anticipated. NF moving towards PDH.. this move surprised me. Now we have to see PA at PDH / DH from where price rejected at DO. Inability to push the prices above PDH/DH may invite fresh shorts.. Also bulls may do some profit booking if price shown weakness at PDH/DH … so will wait for PA at PDH/DH now.

13:36 PM - Placed BOF of PDH short order below low of BO bar

13:48 PM - Cancelled as price moved back above PDH

14:38 PM - Closing the day as no trades expected

Nifty : 16 - Aug - 2017 (-17)

Nifty : 27 - Jul - 2017 (+8)

Nifty : 21 - Jul - 2017 (No Trades)

Nifty : 14 - Jul - 2017 (No Trades)

Nifty - Market Commentary

9:40 AM: Nifty rejected from BRN/PDH at open, gave a PB till PDC and stalled now. Will wait to see how price behaved at PDH/PDL now. Going by bias so far, looking for short entry

10:00 AM: Gave TST to PDC and start sliding, will see PA at PDL, below PDL 40 points gap there.

10:55 AM: Price approaching PDL, making Lower highs and lows. Will look for BPB short entry below PDL

11:10 AM: Again, price gave TST to PDL and started moving up

13:00 PM: Nearing to PDH, price started ranging. Will wait for PA at PDH

14:44 PM: Price not attempted PDH, done for today.

Points earned:  0

06 - Jul - 2017 (+21)

Market Commentary

9:24 AM: NF struggling to cross PDH and moving back and forth around PDC, DL is the resistance price broke during closing time yesterday.

9:35 AM: Trade 1 – BPB of PDH long at 9654 with Initial SL 9645, FTA BRN 46 point away.

<< Thought Process behind this trade “Trend – Bullish, Bias – Upside as price broke PDH, Good Location, BPB is confirmed setup, risk is under 10 points, FTA far away, prices broke after 2 days of consolidation” >>

9:40 AM: Moved SL to 9648, below PDH

9:52 AM: Moved SL to 9654, near to cost. Rom Now I look to hide SL behind swing points, 

expecting price to move up with orderly pullbacks.

10:06 AM: Moved SL to 9656, break even. No much momentum so far

10:24 AM: Moved SL to 9660, as price broke DH

11:09 AM: Moved SL to 9669, below recent swing low

11:45 AM: Drawn range 9683-70, let’s see if BOF of RL signal comes… giving re-entry chance if SL hit. If sharp fall below MSP/RL, I will be out of profiting trade. else I will look to take long trade on BOF signal

12:21 PM: Recent Impulsive wave turned out to be range, indicating bulls losing strength. A counter trend short is not a bad idea if BOF of DH comes, but I will stick to existing position.

12:32 PM: Moved SL to 9677, below low made before breaking RH/DH

12:47 PM: Exited with gain of 21 points

13:51 PM: Waited for BOF of RL signal, which not happened so far.

14:10 PM: Missed to place BPB of DH long order on time, let’s see PA at BRN

15:00 PM: Looks like BOF of BRN signal coming, but I am avoiding new positions at this point of time. Done for today.

Points earned:  +21