December 11, 2015

NIFTY futures intraday charts

- interesting day today
- there was no follow up buying for yesterday's bar.
- first 2 bars were big bars and negative
- this sets the mood for short trade
- I shorted at first arrow
- 2nd arrow is short trade as initial trading range breaks (black line)
- trailing SL hit at black arrow
- long trade not considered as bigger trend is down.

Hourly charts - swing high formed around 7720 F. This level earlier offered support - now it will offer resistance.

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