Monday, 8 August 2016

Aug 8 2016

9:15 Zerodha login issue. Will break for 15 min.
9:30 Login issue still present will break for 15 more minutes.
9:50 Able to login into ... :)..

9:58 Trading at multiday range extreme. Bias is long we need to wait for range to get established or 8700 and PDH are good places to go long.
10:00 Adjusted range high to DH.
10:01 why such low momentum is it because of GST in LS ? Will it consolidate for a while and move up ? 
Can we expect big movement today ? Need to be hyper vigilant looks like it is preparing for a big move.
Also all macro factor like other indices are in favour of big move.

Possible Trades#

Probable Trade#
We have to ignore Trade 3, Trade 1 and 2 are good.
10:21 DO is acting as important flip/DP. Should consider PA at this point.
I see 4 possibilities now
10:37 Tight yellow range is continue BO is a good trade to go long.
10:40 not a quick rejection I think this range may not hold

Probable Ranges it should get established shortly:
3 is against Trend 2 has no space mediocre trade. 1 is the Best trade to take will take only that and ignore all other.
we might get that trade around 12:00 pm 1 more hour of wait.

10:53 Wow range got established. Lets see how it behave at range extreme low. Will it give a long entry ?

Is this the actual range?
Nice Flips forming

11:10 Loosing focus come back....come back...hmmm
11:12 Looks like market wants to test patience for some more time. Focus and be patient. Trade will come
11:24 Got distracted back now..
11:25 No change range is continuing...
11:30 it has reached other range extreme. It may BO or give a BPB. Will ignore both.
12:03 looks like BOF to me will go long at 40
Went long at 38.5 
Stop at 30.
FTA is at 45 just 5 pts away
12:13 I expect this to break 8745 easily. If not will scratch the trade.
12:18 is this a cigarette pattern and we were able to catch the low ?
12:25 Looks like this will definitely test range extreme..
12:31 Or is it just consolidation which will give a BOF at range extreme and move down ?
12:35 Moved my stop to 32.35
12:44 I feel max it may go is range extreme. Very low PA profit to be booked at range extreme.
12:48 My profit target is 6 pts away at 51 hoping it will reach there :)
12:54 Confirmed this is just a consolidation day. 51 is the target. Mostly that will be the last trade for today.
13:05 8749.39 is my target. 
13:06 Target reached. Looking at PA I don't think we will have another trade today.
Max we may get BOF at range extreme which will turn into BW.
***************Breaking for Lunch************
13:30 Not liking PA or volumes done for the day. Let hope for good trades tomorrow.

Trades Taken#