Day Trading based on value zones where demand supply imbalance may occur. The levels are posted before market open with the strategy to play each level under different scenario.
Today one trade in NIFTY which made 30 points. DLF opend at the buy level 232 but never pulled back to this level later. Note that as it opened at our buy level, there is no trade at 236, as our first trade is pull back to 232.
NF opened today(5248) below sell level-5285.When it breaks this level & comes below,sell to be taken.ie below 5285.But it only went up. Where as u have taken 5325 level for selling. Am i missing yr strategy?
You are missing the key idea in the strategy. There is only one trade and it should be the first trade that comes up after 2 minutes of open. The first 2 min bar break above 5260 and later bought at that level on pull back. There is no other trades for the day. Once you take the trade and u are in profit, there is no more trades at subsequent levels, except for the extreme points under certain circumstances. So there is no sell at 5285 or 5325. Clear now.
Also note the other two levels, 5285 and 5325. These levels provided resistance to the up move and 5285 put index to sideways move and 5325 Nifty turned into rotations and later reversed. Not every level is to be traded. Just the first trade only on most days. This was clearly stated in the instructions. Many levels are posted just because i don't know where market will open. I do mark more levels in my chart and play the open wherever the market opens, even on big gap days.
NF opened today(5248) below sell level-5285.When it breaks this level & comes below,sell to be taken.ie below 5285.But it only went up.
ReplyDeleteWhere as u have taken 5325 level for selling.
Am i missing yr strategy?
Ranga,
ReplyDeleteYou are missing the key idea in the strategy. There is only one trade and it should be the first trade that comes up after 2 minutes of open. The first 2 min bar break above 5260 and later bought at that level on pull back. There is no other trades for the day. Once you take the trade and u are in profit, there is no more trades at subsequent levels, except for the extreme points under certain circumstances. So there is no sell at 5285 or 5325. Clear now.
Also note the other two levels, 5285 and 5325. These levels provided resistance to the up move and 5285 put index to sideways move and 5325 Nifty turned into rotations and later reversed. Not every level is to be traded. Just the first trade only on most days. This was clearly stated in the instructions. Many levels are posted just because i don't know where market will open. I do mark more levels in my chart and play the open wherever the market opens, even on big gap days.