Seeing the 15min Chart as is.

[jamit_05]

i am not able to get what's making you to expect good downside below todays low ? gut feeling or your analysis(maybe i missed something ) ? not to say that you are wrong or right just curious to know.

This is an intraday trade, in which I want a maximum of 20 points to call it a good day. So, all this talk is about those 20 points only.

I believe my chances of getting those 20 points below LOD are good because, the LOD break will mark:

1) Rejection of todays up move with the opening gap-up over yesterday's HOD
2) Break of 15min short term moving avg of 15
3) And an important intraday support level of 6760

 

[Vertigo_1985]

This is an intraday trade, in which I want a maximum of 20 points to call it a good day. So, all this talk is about those 20 points only.

I believe my chances of getting those 20 points below LOD are good because, the LOD break will mark:

1) Rejection of todays up move with the opening gap-up over yesterday's HOD
2) Break of 15min short term moving avg of 15
3) And an important intraday support level of 6760

ok, if low breaks my first priority would be to look for bof or buy near 6700(nifty spot) zone. If nifty tests 6675 then i will be expecting ranging action for coming days. Of course i may be proved completely wrong by the market so will change view according to what market does .

 

[jamit_05]

The fall is slow, whipsaws are likely... will short below yesterday's close, which is just 2 pts below LOD

 

[jamit_05]

Long setup in place... long over 6770

It is much easier on the nerves to go long these days. Dodged the short entry for now, as I used a larger filter due to several support levels in between...

 

[PUCHU_2500]

jamit,
tested twice PDC level, I m also in short now I m nt feeling comfortable

 

[jamit_05]

Long setup in place... long over 6770

It is much easier on the nerves to go long these days. Dodged the short entry for now, as I used a larger filter due to several support levels in between...

Long entered, hanging by a fine thread... momentum should come in another 15 to 30 mins with price touching HOD... else I would want out...

 

[jamit_05]

The 30 min chart is encouraging me to hold the long entry.... it has strong supportive tails... all I need is a break of HOD to shut shop for the day...

 

[jamit_05]

SL hit... 6.5 loss

 

[jamit_05]

Am not too happy about taking the short trade below LOD, since hourly ema15 is very nearby... and so are the trading ranges of yesterday and day before... tough call.

 

[jamit_05]

Am not too happy about taking the short trade below LOD, since hourly ema15 is very nearby... and so are the trading ranges of yesterday and day before... tough call.

So far the short trade looks terrible, just as expected. Am glad I didn't take it... saved me 10 points...