Friday, 30 October 2015

Nifty Future 30102015


It opened just above PDL and traded above it till noon time. Missed the low risk entry long on BOF of PDC on retest. In the afternoon entered short on BPB of PDL PDC.  It went well as expected and broke BRN also. Covered it around 8080.

Thursday, 29 October 2015

Nifty Future 29102015


It opened within previous day's range and broke down below PDL but failed and gave BOF of PDL. Entered long.  It tested lot of patience and finally had to scratch it. Then after remaining in the range roughly between 5155 to PDL it broke down.  I was away at that time so could not take this direct BO trade. Later afterwards for rest of the day it traded in a channel.

Wednesday, 28 October 2015

Tuesday, 27 October 2015

Monday, 26 October 2015

Nifty Future 26102015


Today again I could not trade.  If I were trading, these could have been two possible trades for me.  Both would have ended as a scratch.

Sunday, 25 October 2015

Inverted Head & Shoulder pattern

Today after a long time I looked at the Nifty daily chart in some detail and could spot an inverted head & shoulder pattern.  You can say it is somewhat of a late identification of pattern but still it will give some insight to the readers who love pattern trading.

Head & shoulder pattern at the top of an uptrend and inverted head & shoulder at the bottom of an downtrend is considered as a reversal pattern.

Below is the example of IHS (inverted head & shoulder).



Now I present to you the Nifty daily chart.  The pattern and target is marked there.