Nifty opened at PDC and initial range formed. Was looking to trade at the yesterday's tight range, BO or BOF. Got the BO of PDL.
1) BO of PDL BRN. Entered below BRN. Booked when failed to go further down. Profit of 8 points.
2) BPB of PDL BRN. Went long above IRL. Booked when it got resisted at HOD. Profit of 16 points.
3) BO of PDH. Usually I do not take immediately another trade once I book out. It is always good for the trader to wait out for some time once trade is booked out. But here as there was a BOF of PDL, it gave me confidence to enter in the trade above PDH. We all know that failure of break out of one range extreme leads to successful break out of another range extreme. I had this in my mind. Got rewarded handsomely. Booked at profit of 42 points.
Missed the last up move.