Monday, 3 April 2017

Nifty Future 03042017


It had a good possibility of today being a type 1 trend day in the morning.  It was further confirmed by reading the market breadth which is one of the market internals.  The difference between advancing and declining stocks was more than 600 in the first morning hour.  This indicated markets trading only in one direction throughout the day.  This is one of my recent observations.  Also stock trading in the morning gives the overall feel of markets and which side in control.

It opened above all time high level, pulled back a little, pullback found support at PDH and gap could only partially get filled.  This all indicated strength in the buyers.  Then it started creating a pressure at DO/HOD then, inviting us to go for a direct BO trade.  Once that got executed, it was just a game of waiting patiently till end of the day to book out close to highest point of the day.

5 comments:

  1. Nice Uday..
    http://daytradernifty.blogspot.in/2017/03/trends-part-1.html
    Added this explanation on Trends. Hope Traders find it useful.

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  2. Also your feedback is highly valued.

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  3. hi URD, is not this an example of Trend Gap ?

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