Date : 18 Jan 2017
A high volatile trading session. Morning session had all the actions for the 4 stocks that I am tracking, after morning hour it was a dull and tight range play for rest of the day.
TATASTEEL was quite evident for a great momentum trade as price was forming a inverted H&S near intermediate support at 450, and today price broke ths pattern with good momentum and volume. I was not ready for this straight rally towards intermediate supply zone. I was expecting a pullback and low risk entry, which I did not get. After 10:30 am it was all a grinding minor uptrend near intermediate supply zone, which was not a high probable LONG trade zone.
Trade SBIN on long side as Banks and NIFTY were showing good momentum in morning, but SBIN did not catch up well, Scratched the 1st LONG, reversed to SHORT (half risk, Counter trend) after a failure near PDH, This short did not work well too, so just 2 trades for today, with scratched on both. I had taken the LONG with full risk where as the short on half risk
Net P/L for the day = -0.8R
Net P/L for the month = +1.8R
A high volatile trading session. Morning session had all the actions for the 4 stocks that I am tracking, after morning hour it was a dull and tight range play for rest of the day.
TATASTEEL was quite evident for a great momentum trade as price was forming a inverted H&S near intermediate support at 450, and today price broke ths pattern with good momentum and volume. I was not ready for this straight rally towards intermediate supply zone. I was expecting a pullback and low risk entry, which I did not get. After 10:30 am it was all a grinding minor uptrend near intermediate supply zone, which was not a high probable LONG trade zone.
Trade SBIN on long side as Banks and NIFTY were showing good momentum in morning, but SBIN did not catch up well, Scratched the 1st LONG, reversed to SHORT (half risk, Counter trend) after a failure near PDH, This short did not work well too, so just 2 trades for today, with scratched on both. I had taken the LONG with full risk where as the short on half risk
Net P/L for the day = -0.8R
Net P/L for the month = +1.8R