Posted by: Babu Suresh | March 9, 2012

9th Mar Nifty Day Trading Session

Good to see you all after the HOLI.

Today consciously I broke 2 of my cardinal day trading rules, 1. Stop trading once the daily target is achieved; 2. Avoid trading the last 15 minutes of the market. There are times when you feel you can take allowable risks, go for it.

After availing 3 good trades from JSWsteel, 2 in the first hour and 1 after 12, I was just observing the State Bank Of India. The scenario was exactly as I had described in my 5th Mar. post, second point, except for the only issue when to enter. There was one minor fall which dragged SBI down to 2213 after 15.05, I decided with full conviction to buy at 2220 and placed my sell order with the same conviction at 2235 because 2235 was my HMA level at that instant. Once the price broke day’s high, I changed my target to 2234 and got a clean exit. It was a real fantastic trade I had taken at the penultimate minutes.

STATE BANK OF INDIA (SBIN) –  09–03–2012

SBIN_090312

JSWSTEEL –  09–03–2012

JSW Steel_090312

Healthy And Wealthy Trading

Healthy And Wealthy Weekend 

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