Nifty Futures opened Gap down near 5410 and traded near 5400 mark. Though the Index was near support level, "Initiated" short trade @ 5402 with 5423 as Stop Loss. Trade moved into profit and "locked" partial profit @ 5382. Then the move down was "swift" and we trailed Stop Loss protecting profits. The Trailing Stop Loss was hit to "Throw us Out" of trade @ 5320. A Good Trade completed. A dead cat bounce ensued taking the Index to 5350. Failed to "initiate" another Short trade near 5340 levels. The down move went below 5300 all the way to 5256. A "Big Miss" indeed.
Views for 28th August
The Index is near "Fibonacci" Support levels. But let us believe in Reality as far as Intra Day trading is concerned.
Views for 28th August
The Index is near "Fibonacci" Support levels. But let us believe in Reality as far as Intra Day trading is concerned.
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