Seeing the 15min Chart as is.

[jamit_05]

LOD has been established... seeking long over 72.50; Will exit positions at 20 points gain.

 

[jamit_05]

LOD has been established... seeking long over 72.50; Will exit positions at 20 points gain.

It is tough making a living in the past few days and especially today...

Got out of the long, with minor cash.
Reason: One and Only... look at the menacing tails... in 5, 10 and 15mins... i don't wanna fight em... may try to go long again over HOD... lets see...

 

[jamit_05]

Today, bulls tried hard... pretty hard to make strong highs... but have not succeeded. Well, not with strength. I tried two long entries and both were drags. This weakness will attract more Bears in the coming sessions. Price needs to touch 6650 once before making newer highs.

Tomorrow, will look to short below today's low.

 

[kumudhan]

..........

 

[jamit_05]

Ideal trades would be:

Long above 6784
Short below 6753

There are no setup as yet... so will just wait and watch.

Yesterday was an excellent day to learn. Ended in a minor loss of 7 points after expenses. I had a good long entry going, but misread the chart and got out at breakeven. Now, I have pretty much decided that I will not bail out on any of my entries because I select them after much consideration and sorting. Only if 15 or 30 mins show menacing bars, I will place trailstop exit... else will bear my fate.

But, if it is an anti-trend entry, I will continue to be skeptical.

 

[jamit_05]

Today again, shorts seem to be tough. There is hourly moving avg and two days of trading range to absorb any downward momentum. Surely, I will short only if the setup is big enough.

 

[jamit_05]

TBQ = 2*TSQ

Not a favourable setup for a support to break. In fact, it makes me want to see signs of a bounce from previous LOD.

 

[jamit_05]

TBQ = 2*TSQ

Not a favourable setup for a support to break. In fact, it makes me want to see signs of a bounce from previous LOD.

Equation changed, now TBQ < TSQ.

Bears are gathering, will probably damage yesterday's LOD.

 

[jamit_05]

Hourly made an inside bar. Market has halted. It reluctantly came down to a support region as it made all small bars in the down journey. Bears are weak. Any downside breakout should be treated as buying opportunity. FIIs made strong purchase yesterday.

 

[jamit_05]

Did not take the short entry... even if I had, I would've sought an early exit at breakeven, as there was no follow-up after the breakout of pLOD. Saved me 5 points.

This also is a long setup in the making. Am considering long over 6762.45, which will negate pLOD break. If this entry works out, the day may close well ove 6800.