February 10, 2014

Intraday analysis

Global clues were very strong. However first 5 minute bar of the day saw immediate selling and nifty closed towards low of the bar. First sell signal happened in 15-20 min as it was clear no buying was coming.

We had a buy bar around 10.35 (blue)... however this was actually a cover of an existing short and not a fresh buy as the broader intraday trend was down. 

Subsequently we had 4 short signals but market was rangebound so nothing much really happened.

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