Tuesday, 9 August 2016

Aug 9

Big Picture
RBI announcement Day: No Trades till announcement.
Announcement expect soon
Crazy PA
11:19 Surprised to see lack of moment is this a range kind of day ?
Will the prices stay inside the range which are already formed ?
Possible Trades
11:41 Recognized 4 Ranges
and possible Trades.

11:42 entered from range 3 to Range 2 no rejection seen. Will be careful taking short Trade here.
11:44 feel indecision not able to take call will wait for more confirmation or let let go of this trade.
11:45 As decided will let this trade pass unless weakness in bulls is confirmed.
12:05 Now ranges are clear
12:07 Only Trade I have is short at PDL. Good DP to go short.

12:37 For some reason Measure moves keep working again and again :)
With this I think down move has ended. It may consolidate for some time before continue down
Or give us short entry near MSP/BRN.
So wait wait... patience....

12:56 Seeing 8686 as MSP this could be place to take short trade. 
13:04 something cooking at 85
13:10 Planning to go short here
13:12 Short at 76 will see how 66 DL behave. Ready to scratch if it is not a BO of DL.
13:22 Trade scratched. Looks like Down Trend strength is slowing down.
13:26 Looking to take short trade at BRN or MSP.
13:35 It didn't moved from MSP as expected. So no OF trapped. 
13:37 is it reversal up trend looks strong.
13:39 if this doesn't move up then longs are trapped will be good violent move down. Lets see.
13:48 Longs are failing I see a juicy setup to go short below 8684.
13:49 longs trying very hard to sustin the level and move till 8700.
13:51 Gaining strength. Lets wee how they go from here. If they fail will be good move down.
13:53 Nope(longs) are gaining strength. Bulls plz slow down :)..
13:55 Nope longs are in strong position they will test 8700 for sure.
13:59 Another attempt to go long failed. if there is rapid rejection / Fall will go short at 8683.
Else it could be a channel going up then stay out. hmm
is it a channel ?
14:10 why is that level defended so heavily ?
14:11 If I go by what prices are doing going short below this level of 8683 is a good trade. Not sure why that is being defended. Lets check volume once 
14:13 Clearly bulls have retained this session.
14:13 is BPB a good trade to look at. on the on set it will be a CT trade. so let see if we can get a good BOF near BRN.
I see one Danger channel move to BRN will lead to BW so be very very careful
3 Ranges and Possible BW what to do ?

14:20 I think only possible good trade is BOF at the MSP lets see. LOL ?

14:22 Remember there is a strong FLIP at 83 so it has to be a Strong BOF to take short.
14:23 Nope looks like a good BO and it is holding in that range :(. 
14:39 Short at 8698 stop at 8712.
Scratched at -6 pts.
Done for the day..

In Hind sight : Could have avoided that trade took it with FOMO I think. Not sure...
after Thoughts:
If I think about it I did the right thing. This was a BPB which failed. So when short. May be could have waited for Channel to break that is the learning to take from today. Will keep that in mind.


  1. Shashank,
    One "out of the subject" question ? Which software do you use to draw on charts ?