Diary of Paper Trading BankNifty

[reachjj]

Hi All,

I am planning to test my strategy for next one month using paper trading. This thread is only to keep the track of that. I am expecting minimum points of 50-70 per day.
Lets see how it works for next one month.

Note: Dont take any positions based on my levels.This is only for paper trading.

Thanks
Prakash

 

[reachjj]

Buy BNF above 12724 (Spot)
Sell BNF below 12610 (Spot)

Also can buy BNF if it comes below 12640 (Spot) and rises above this level.

 

[reachjj]

I have posted the level of 12724 after the first candle today. After that, it tried to cross this level so many times, but it couldnt.

Then it came down till 12628 and then started moving up and crossed 12640 (our risky buy level) and made some 40 points to reach 12680 and started falling down. We could have got at least 25 points in this move.

Then BNF crossed below our sell level 12610 and reached low of 12515 which is 95 points.

So today's gain is min 100 Points.

Lets see, what happens tomorrow.

 

[reachjj]

Today I was travelling to office, so couldn't post at 9.30. But anyway the BNF is still within my range.

One can buy BNF above 12500 and sell below 12420.

 

[reachjj]

what a range movement today. it could not close outside the range on 5min chart even after so many attempts.

No trade today. catch you tomorrow.

 

[reachjj]

Hi Good Morning.

The immediate resistance and support are 12526 and 12500....

Can short below 12480 if it closes on 5 min chart.

 

[reachjj]

Also note that, if it comes down the 12480 level and then moves up and sustains on 5 min chart, then one can go long.

 

[reachjj]

It bounced of from the day's low (12470-12480).... can go long...

 

[reachjj]

After some small movement, it has started coming down....its almost at my SL of 12450...lets see what happens....if it triggers the SL, then loss of 30 points, and no more trade today.

 

[reachjj]

At last it broke the range and also closed below the range (12420)....

Good Bye for the day.... Catch you tomorrow morning.