1) Gapped up above BRN and got rejected strongly and soon
fell beyond PDL. Already decided not to
short until huge consolidation was noticed above PDL. Hence skipped this down
move.
2) Consolidation High was formed at PDL. Price spiked up at
the first testing of CH itself, without consolidating sufficiently
and got resisted at MSP of previous day. Seeing this for the first
time. Could not capture this move. Yesterday support (MSP) acted as Flip
zone and RH.
3) Ranging above the confluence of PDL/RL, price fell down and broke the then Low
of Day, but there was no follow up selling.
4) Unable to break PDL, Price fell down steeply. It seemed
like BOF of BRN. Didn’t enter Long above swing high. Wanted the price to break
BRN Spot, which didn’t happen.
Market was not in the control of Day traders. Big boys and
higher TF traders were active, it seems. Could not take any trade on a day of 180+
points. But could draw consolation from the fact I was not one among the Bulls,
who might have lost a lot.
Can’t understand why this kolaveri by Bears. Pre budget
Rally has come to an end? Railway Budget was presented in Parliament today. Has it got anything to do with the fall? God only knows.
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