Friday, January 31, 2014

31/01/2014




NS opened without gap. Nifty Future’s premium made it look like gap. So, NS has to be checked for deciding Market   bias. Today there was no bias, whatsoever.
BRN Spot 6100 resisted the upmove and caused a BOF. Didn’t  take it, as FTA in the form of swing pivot was too closely located above IRL..
Next signal was BOF at IRL/BRN. Placed SL buy order above pinbar, after seeing the huge volume.  Surprised to see a big Bearish candle after pinbar.  Price was hovering below  DP, gave an impression that price is  being accepted below DP and that BOF failed. Hence placed a SL sell order below the low of engulfing candle. But price went back into the IR. Thought that there is no clear imbalance between buys and sells and stayed out, after cancelling all the orders.  Price hovered above IRL for an hour, before crawling its way to IRH. 

After 2 TSTs of IRH, textbook BOF  presented an opportunity. Grabbed  it and got 21 points.  Another textbook BOF again at Day Low. Didn’t take it as it was  already 2.40PM.
When the Account is in profit, all signals can be boldly taken.  Next week, first take a few high probability trades, so that there is not much loss and some profit. Then take all the trades, that come along the way. At the end of the week, there must not be any loss.

5 comments:

  1. Sir,
    Very good analysis. I am a follower of ST Sir of Niftynirvana.blogspot.in and now yours.Keep up your good work.
    Thanks.
    dushmantdas

    ReplyDelete
  2. Hi, Dushmantdas,

    No need to call me Sir. Just call me Karthikeyan. Thanks for your comments.

    Thanks for following my blog. I would like to inform you that I am a new trader. So there is a very strong chance for my views to be absolutely wrong. Please follow the guidelines of only Rajeshji of Nifty Nirvava.
    We can discuss and get to know the views of each other so that, we become better traders at the earliest. So, I look forward to see your comments on a regular basis.

    Request you also to start a blog and post your trades there. People like me can have a look, post our comments and learn something.

    Have a great weekend.

    Thanks. S.Karthikeyan

    ReplyDelete
  3. Hi Karthikeyan,

    Good trade today :)



    Thanks,
    Mahesh

    ReplyDelete
    Replies
    1. Hi Mahesh,

      Yes it was. What about you?

      Wish you great trading tomorrow.

      S.Karthikeyan

      Delete
    2. Hi Karthikeyan,

      Even i took 4 trades...with mixed result..the screenshot i saved in my office computer..will post tomorrow...


      Thanks,
      Mahesh

      Delete