Day Trading Stocks & Futures

Riskyman

Riskyman

Well-Known Member
#36,765
#36,765
TraderRavi said:
lower circuit in all 3 OMC in opening itself. down 22 to 25% :nailbiting:
Click to expand...
I posted this in general trading thread yesterday. Looks like the the market is not happy about gormint stepping in. I dont think its about one rupee at all. Markets probably thinks this will repeat specially going into elections. Maybe a knee jerk reaction to it.

A one rupee cut is not a significant reduction. The market is so fragile that any news is used to sell and take cash away. If you will remember, in 2014 just before the elections, the OMCs were one of the first to start rallying even though WTI crude was trading above 90-95 USD.
Also, the OMCs were the first to start correcting from as early as Aug-sept 2017 when WTI was trading at 47-50 usd
 
primitivetrader

primitivetrader

Well-Known Member
#36,770
#36,770
bnf intra first bar seems like selling climax. if price test today's as off now low with low vol long set up may happen if first bar breakout and res test of its high happen low risk long may happen. breakdown of first bar and res test look for short. tf 3 min.
first bar is active support/ resistance for rest of the day.
 
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