Friday, 10 March 2017

Nifty Future 10032017


PDC was able to hold the prices in the morning and when the prices failed to break below it, thought there was a setup for long trade.  Prices still refused to move and remained range bound.  In the afternoon, it made another attempt to break the range low/PDC but as expected there was no follow through.  How can you expect markets to move decisively before knowing the final results of media hyped state assembly elections? Once it was confirmed, it gave good reversal move as marked.

5 comments:

  1. Thanks Uday, feels like it is eager to move above 9000. Hope we get chance to enter on Monday :)..

    ReplyDelete
    Replies
    1. If markets like it, expect trend day on Tuesday.

      URD

      Delete
  2. Nice thought process for second trade.

    ReplyDelete
  3. Hi URD,

    I played the afternoon move, thinking that it was the type of pressure play reversal you mentioned a couple of days ago. I did the 9000CE from 80 to 96.

    Thanks

    ReplyDelete
    Replies
    1. Every reversals are not a pressure play. Focus on factors which can make the reversal powerful.

      URD

      Delete