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Wednesday, May 27, 2015

27/05/2015,WEDNESDAY





1)Kept a Limit order at XX17.It was not filled.

2)Shorted hoping that there would be enough order accumulation as the location was PDL. Gave 2 points. 
This trade was directed at BRN, a strong option strike level on the eve of expiry. Should have avoided this trade.

3) Placed a long at the Range boundary hoping that it would act as flip zone. Cancelled the Long for good on seeing the terrific momentum of down move.

4) Looked like CPB in making. Shorted with a Limit order at xx16. Thought that this will at least test BRN. Didn’t test even the previous swing low. Got just 2 points. 

Disclaimer: I am not a Research Analyst, registered with SEBI/MCX or any Exchange. I maintain this blog only for my own learning purpose and recording my thoughts on intraday activity of Market. I do not give any kind of trading advice to anyone. My methods will result in severe losses. Hence please do not follow me.
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2 comments:

  1. UnknownMay 27, 2015 at 3:18 PM

    Hi karthikeyan,
    First trade is not a great location to initiate long.. There is a resistance at 8330.Accelerated climatic rally into the resistance,look to fade the move on evidence of weakness..

    ReplyDelete
  2. nifty for breadMay 27, 2015 at 3:26 PM

    Hi Jagadeesh,

    Thanks for the guidance. I thought that the up move will continue after the consolidation. As you said, there is no point in taking the Long, when exhaustion is clearly visible.

    S.Karthikeyan

    ReplyDelete

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