Posted by: Babu Suresh | March 7, 2012

7th Mar Nifty Day Trading Session

Good to see you all. Hope you all had a good time with the today’s market.

I availed one long trade in the first 15 minutes from JSWSTEEL and could score a comfortable 12 points with ease and then called it a day. Technically speaking, there was only one valid reason due to which I decided to go for that trade but didn’t anticipate such a massive move with huge volume. The reason being, please refer my 5th Mar. post, the price fell by about 15 points from yesterday’s closing but the entire fall happened between HMA and Bollinger Bands in 456 sec. and 933 sec. charts and it did not close below the HMA at any time and my secondary indicators, RSI and MACD didn’t respond to the fall either. There was another chance, this time a short trade to score about 10 points at 13.00 hours but avoided going for it, since I had achieved my daily target in the first trade itself.

State Bank Of India gave 1 good chance to go long and score at least 20 points after 10.30 but avoided it for the same reason. The scenario was very much same as JSWSTEEL with State Bank Of India also but it took some time to make a move.

JSWSTEEL

JSW Steel_070312

Healthy And Wealthy Trading

Wish you all a Healthy And Wealthy HOLI

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