Once again Turtle Soup ..

rkkarnani

Well-Known Member
Why i took a chance with Tatasteel?
It had formed 20Low at 397.1 ,four days back & a potential Long stock if 397.1 is breached as per TS.

Mkt opened Gap up & so also Tatasteel.
The propablity of it coming down is bright & hence the trade.

Saw 401.2
Nice contra trade ! Gave an opportunity of ~Rs.2/- in futures lot. With a lot size 1000, a scalp of 2/- would be great in a contra trade.
if position taken in Cash, I would prefer exiting part qty at some profit so that we dont leave 'all' on the table. Cash did a low of 401 and CMP 402.45
:)
 

rkkarnani

Well-Known Member
Rangarajan sir, Just an observation on tata steel, dont have live Cash chart, but on Futures chart Tata Steel has made a IDNR4 with 404.xx as low and seems all set to form a IDNR4 on 15 min. TF too ! A breach with filter of the 10:30 bar low should give good profits.
 

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