Market
Commentary
Pre-Market:
Nifty trading in 2 ranges from last 2
weeks. 9600-9640 & 9640-9700
Yesterday touched low of range 2, but
closed above it.
If gap up, should see if sustain above PDH
and trade in range 1 (Or) if gap down, should see if sustain below PDL/BRN
9:40 AM: Price gapped above PDH and
sustained so far, will see PA if pulled back to PDH now
10:00 AM: Price reached PDH with bearish
bias, after strong rejection from RN. will wait for better setup to take any
trade decision
10:19 AM: Potential trade - BOB of PDH short
at 9633 with Initial SL 9646, FTA PDC 13 points away. Not a good R:R
10:50 AM: Not comfortable in taking BOF of
PDH long, as price making narrowed moves and tail bar at open makes me nervious with long attempt at this juncture
14:00 PM: Placed BOF of PDH long at 9645
14:20 PM: Cancelled as price sustained
below PDH long
13:35 PM: Trade1: BPB of PDH short at 9637
with Initial SL 9645, FTA PDC 17 points away
14:40 PM: Moved SL to 9641 once price
reaches PDC
14:54 PM: Moved SL to 9627 as price settling
below PDC
15:00 PM: Moved SL to 9623
15:10 PM: Exited with gain of 12 points
Points earned: +12
