01/04/2014, Tuesday

1) Being Announcement day, refrained from trading till announcement is made at 11.00 AM.  Price moved in all directions before and after the announcement at will.

2) Took BOF of PDL Long. When price could not be pushed above in the second attempt, made a hasty exit. Should learn to trail better. The same mistake happened for the second consecutive day, missing 20 points.

ST clarified that SL and TSL must be beyond the nearest Round Numbers ending with 5 or 0. Had I kept the TSL below 6720 in this case, could have made easily made 20+ points.

3) TRAP was noticed. But it was already 2.50 PM and didn't take the trade. This moved well.

30/01/2014

 

Gapped  Down and a very narrow initial Range was formed. IRL BO ignored, as RN was closely located.  Placed a SL Long order at BOF-IRL. Cancelled it on seeing the poor momentum.  I should not have placed a CT  order, when the FTA is not broken in the direction of CT.

MSP  was never broken with sufficient volume; Minor BOF of  MSP didn’t attract sufficient volume.  TST of  MSP was noticed. Since it is a low probability trade (and with RN around), this trade was not taken. Then BPB of  RN was there to be grabbed. As I was focusing on BOF in the direction of trend, this too was ignored. Price action centered around RN 6050 for the major part of the day, highlighting its growing importance, more so on and near expiry day. 

Then big boys took over towards the end of the day going on a buying spree, rocketing the price up by 50 points from Day Low to Day high in a jiffy, reminding everyone that today is expiry day. 

So, no trades for the day.