Thursday, 22 December 2016

Nifty Future & Tata Steel 22122016















(click on the chart for enlarged view of the chart)

It opened full gap down and gave nice BPB of PDL/PDC setup to initiate short which worked well.  Later attempted BPB of BRN short which moved some.  Also attempted a TST setup kind of short trade at BRN which missed the target by 2 points.
















(click on the chart for enlarged view of the chart)

Tata Steel in the morning first hour refused to move and ultimately it had to move.  Took BPB of LOL PDL BRN short trade which worked very very well.  After that it started ranging and provided a nice BOF of Range High which reached the target Range Low.


7 comments:

  1. wow ... nice catch ..eh !!
    :-)

    ReplyDelete
  2. how did you select tata steel and not other co for shorting ?

    ReplyDelete
    Replies
    1. Kunal

      I used to trade only Nifty long back. Lately I have started to track Nifty future, options, Nifty Bank future, its options, Tata Steel and few other stock option strikes simultaneously while trading. I keep tracking them and try to trade only once I spot a good trade setup during the day.

      These were among the trades that I took during the day.

      URD

      Delete
  3. Thanks sir,
    What was the reason to avoid last BOF/TST of BRN?
    Is previous TST trade fail to reach LOD is the reason to avoid it? Or any

    Naveen

    ReplyDelete
    Replies
    1. Naveen

      Yes, first time when I took the trade it did not work as expected. So second time there was not anything further to the information which would force me to initiate the trade again there.

      URD

      Delete