Posted by: Babu Suresh | April 2, 2012

April 02, 2012 Nifty Day Trading

Success consists of going from failure to failure without loss of enthusiasm.
– Winston Churchill

It was a good start in the morning after a pleasant weekend. During the weekend got a chance to learn something about ombre hair thanks to a beautiful blogger and photographer –  Crengux.

Managed to get two trades from JUBLFOOD –  first one was short and the second one was long. Secured 21 points from both the trades. I liked the second one because the way the Pit Bull 3 took off after 1200 hours was wonderful and above all, the HMA Bollinger Bands combination in sync with RSI made all the difference.

Avoided JSWSTEEL and State Bank Of India since I felt there was total chaos and lack of harmony in the price action which can be seen from the respective charts presented below.

Overall, despite some good moves it is quite apparent that our market is already in long holiday mood which can further be substantiated with the volume traded today. Even though there is chaos in the price action so far as JSWSTEEL and SBIN are concerned as mentioned above, I will not be surprised to see in the coming sessions some big moves. But the only issue will be volume. To be on the safer side I would recommend avoiding overnight positions for the time being.

Presenting here my usual intraday and daily charts with HMA-Bollinger Bands Day Trading System in action for your reference.

Intraday Charts –  02–04–2012

Nifty Futures (ODIN) Tick Chart

Nifty Future ODIN 020412

JSWSTEEL

JSWSTEEL 020412

JUBLFOOD

JUBLFOOD 020412

State Bank Of India

State Bank Of India 020412

Daily Charts (Amibroker) –  02–04–2012

Nifty Spot

Nifty Spot Daily 020412

JSWSTEEL

JSWSteel Daily 020412

JUBLFOOD

Jublfood Daily 020412

State Bank Of India

SBIN Daily 020412

Healthy And Wealthy Trading

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