1) Infosys results announced at Market opening time. Opened near PDH and and got sold out.Price fell down by more than 85 poimts in no time without giving any opportunity for entry.
Placed a SL Sell order below RL, but cancelled it immediately, as chances of a further down move after such a big fall were limited.
2) FTC at RL, indicated the upcoming narrow range for some time. But it consolidation in a narrow range went on for more than 5 hours. Waited in vain upto 2.30 to see the price encounter either RH(MSP) or RL.
3) Price suddenly spiked above MSP(RH). Going Long was not an option as PDL was too close. Eventually price was rejected and looked very much like BOF. Didn't take the BOF AS
i) wanted to take only CT trades towards the end of the day.
ii) price fell back into the range at 2.55 pm only. Margin won't allow me to trade after 3.00 PM.
iii) Time taken to fall back into the range was high, indicating that the BOF may fail. As expected this move didn't travel much distance.
So, no trades for the day.
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