March 31, 2015

NIFTY futures intraday charts

- nifty rangebound between 8550 and 8585F through out the day
- any intraday trade would be possible only on 1 min charts
- ignore first breakout above 8585F around 12.30 (circle)
- second breakout above 8585F was valid buy signal
- markets showing difficultly above 8585F levels
- note lack of follow thru buying for 20-30 min after breakout
- short trade possible above 8585 F (4 candlesticks forming upper tails - shown in box).
- breakout fails / short trade gets initiated.
- I did not trade today



No comments:

Post a Comment