Friday, 12 May 2017

Nifty Future 12052017


It opened CT full gap down.  Once it seemed like prices were getting accepted below PDL, it was possible to take BPB of PDC PDL which moved till BRN.  After that it formed a range and gave BOF of range high which also moved till range low/BRN.  There was an expectation of barbed wire at BRN and it did in fact form a barbed wire.

Have a look at earlier price behavior at BRN and see what it did.


3 comments:

  1. Thanks for the charts and explanation...

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  2. Thanks for charts. Just a query : this BPB short Shud have been covered at first test of BRN or trailed and stopped at 2nd marker point?

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    Replies
    1. Anand

      If you expected BRN to act as a barbed wire because of its earlier behavior at the same location, you would like to book out around BRN. If your expectation was that it would break BRN, then you would wait and see whether it was able to break the BRN or not. If it breaks, fine, trail it. If does not then book out.

      URD

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