Wednesday, 8 October 2014


Nifty again today opened full gap down and moved up straight immediately.  Expected today as a range bound day as yesterday was a big down day.  As expected it traded in a roughly 40-point range. 
1) BOF of LOL BRN and Range High.  Entered below PDC. It moved to the range low and bounced.  Covered at 13 points of profit.
2) BOF of Range Low / LOD. It moved as expected.  Covered when it came back into the range. Profit of 24 points.


  1. Daveji,

    When you took the first trade, why didn't you go for BPB of BRN Long trade, immediately after BRN was broken? Did you wait for the then range extreme also to get broken? Or any other reasons?


  2. SK

    There were two levels on my chart, one BRN and second Range High. For BPB entry, when there are two or more levels close together I feel it is better to wait till they get broken convincingly because most of time these levels act as strong S/R and there are good BOF opportunities there. Further I was expecting it to remain in the range and act that level as range extreme. So waited for some time and not jumped immediately into it.

    Good to see that you not hesitated and took BOF of LOD and you also got rewarded.


  3. Daveji,

    Thanks for the guidance. As I was not sure of this, shorted before Range high was taken out and paid with my SL.(first trade) It is the lesson of the day.

    Second trade was really satisfying. Was expecting such an opportunity at anyone of the Range extremes towards the end of the day and could get my share for the day.

    Slowly but surely I am getting my thought process right, thanks to the guidance of yourself and ST.