re: Day trading Nifty & Banknifty Futures
Posting here 15min.chart now check all the Entries and Exits and the logic behind it.
There are always some previous days Levels, Pivots, some round no. which can give you current days Idea for trades.
(Note- I am not very good in write up in English, so if anybody found any mistake please understand me.)
Trade 1 - Went short below first 5min Candle, Exited near Round No 10900. Anybody who is in market
he must have known that Round no. act as Sup/Resi.in first instance.
Trade 2 - Took Long Entry above Pivot, kept S/L and rest know to the all the forum members.
If I would have not went to the office, I might had closed this trade much earlier.
It was my Luck that I could exit this trade with huge gain on same logic of Round No.
Trade 3 - Entered short on same logic + Price was resisting to go above previous bar +there was Channel Resi.in 15TF.
S/l was very small above HOD till then. Exit was on Blue hammer bar. Why ?
Price was near 61.8% Retracement level support from LOD TO HOD.
Many times previously also I posted trades on 61.8% levels.
Trade 4 - Entered Long again on 61.8% support and rejection of price to go below previous Blue Hammer.
Exited on just 5points because price finding Resistance + I was not feeling comfortable that trade.
Trade 5 - Waited for some time, again price came up again 2 consecutive candles same Top formation
+ Chances of Range formation. Some time before Pratapji gave hint about upside Resi.
So took chance and went short. Exit,There was support line as shown in chart + Round No. Support.
Trade 6 - Entered Long for same reason I exited earlier Short. Price was not moving much in either side,
S/L was below Support line and I was waiting for either s/l hit or Target Price near resi. Line.
Pratapji gave another Hint of BO or BD so just kept S/L and removed profit booking order.
BO happened, price blasted so kept Profit booking order near channel Resi. where Round No.11100 was also.
but price came down much earlier booked in fear.
Trade 7 - There formed again Pin bar + Trend line support, So took long
with cursing myself.This time S/l was below Trend line and Profit booking order at was exact 11111.
As price was going up TSL was moving but kept profit booking order at same level in some Ego.
TSL hit and my EGO also.
Trade 8 - Keenly watched 15 min TF and found cross trend line Resi.Again with anger
took short without second thought. I was looking to book near earlier support
but Fall was in so speed and with volume I removed profit booking order and
just keep moving TSL.All Small supports, Round figure 11000 gone with thrust, 15 min Candle was more than 100 points,
Nifty was drastically falling so just keep TSL moving with 40-50 point margin.
At once I was so uncomfortable that I just moved out of my room, drink lot of water and
came again after few moments, calculated my points. Then found near LOD it will reach 500 mark.
Kept Profit booking order at there again moved outside. Price Alert buzzed, I came and Saw It was 500 +.
Trade 9 - Again found price was forming Double Bottom,
I was in Dilemma "To be or Not to be" Entered long,Price moved above Round No.10900
with thrust but again resisted. TSL hit.
Trade 10 - Took short and lost mind with minor up move, booked loss.
Trade 11 - Again took Short below support that range, S/l was above range,
calculated Point and kept order at 600 points. That candle made low much below
than my Exit point but I was not in condition to hold this trade for 1 more point.
Please don't think that I was just Enjoying the Game. It was not Joyride for me.
I was under tremendous Pressure till the End of Day.