Today if you were aware of how to trade the news flow then only the day trading was possible. News play a very important role in moving the markets and we cannot ignore it. It creates the volatility and hence the profit potential for us as a day trader. We need to know how to trade the news. I have already discussed how to trade the news flow in my Video Tutorial and I hope the subscribers of the same would have benefited from the same. They could have covered the cost of tutorial today itself by trading only 1 lot of Nifty.
The important thing to notice here is the market reaction to the news flow which comes as a surprise or shock and that too especially during market hours. Any sizable pullback of 50 to 75 points during such news flow day is normally going to be used to create fresh positions by the traders.
I have marked the setup keeping in mind this sizable pullback. Also that level was acting as a tough resistance and did not allow the prices to go further up.
If you could not trade with the news flow today wondering what is happening, I am sure next time if the same kind of news hit to the markets, you will find the setup like this to trade.