We go long after a candle close over 16350.
We play short after a candle close under 16120.
Remember to have a good Stop Loss and to Hedge your bets after you've made a profit.
I would not recommend keeping a trade for the next day itself because of the current volatile market conditions. But, if you think you can accept that risk, then do it.
As always, this...
Last day kicked our asses... Speculations went out of the window and I didn't know what to do with such a big gap-down. Guess what? This happens. The market is skewed against your favor, you have to decide whether to fight or not. I didn't. I had no idea what to do yesterday after the gap - so I slept around the whole day. I didn't make a profit, sure but I...
Please wait for the market to make its way out of the triangle and confirm its position on the 15min chart before making any sort of move.
Small profit is still profit.
And keep your quantity small and tight.
Happy Hunting :)
Nifty 50 is all set to play a game that will drain your coffers.
Only take PE under 16125 and a SMALL lot of CE if it goes over 16440.
And if you have taken position already then hedge as soon as you have made some profit.
Happy hunting :)
With the market beating us down for the last few days, I think we are at a point where we have a really good chance to finally breakout and start going for the next 16200 level.
Otherwise breaking through the 15900 level could mean an extended time below the 16000 mark and maybe even diving towards the 14000 level.
I will be very careful in whatever I invest...