• The levels are marked as Buy, Sell or Buy/Sell. At levels marked Buy/Sell you can take long and short trades.
• Trades are executed after two minutes from open, i.e. after 9:17 and usually one trade per day. Only take the first trade that comes after open.
• After open, watch the levels and current price. Only the first trade is executed. If a level says Buy and if price is above that level, then buy on a pull back to that level. If price is below that level, wait for a break above that level, and buy on a pull back to that level. If a level says Sell and if price is below that level, then sell when price reaches that level. If price is above that level, wait for a break below that level, and sell on a pull back to that level. If the level says Buy/Sell, then if price is above that level, buy on a pull back; if price is below that level, sell when price reaches that level.
• Usually only one trade is executed on a day. However if stopped out in the first trade, then take the trade at the next level also. On days marked with Directional sentiment sideways, two trades can be taken, the very first trade and another trade at any of the extreme levels.
• Breakout is determined on the basis of closing price on a 2 minute chart. Close should be clearly above or below the level.
• Do not expect entry at the exact level, execute trades near the levels. SL is calculated from the level, not from the entry price.
Date: 14-11-2011 Symbol: NIFTY Fut
Directional Sentiment: Down SL/target: 12/30
Level Comments
5238 Sell
5200 Sell
5174 Sell
5161 Sell
Date: 14-11-2011 Symbol: DLF
Directional Sentiment: Down SL/target: 1.2/3
Level Comments
238.80 Sell
229 Sell
226 Sell
