March 12, 2014

Intraday analysis

Initial bias was down... however as mentioned in this post, correction would start only on break of 6520F.

By that logic, no short trade was possible unless 6520 broke. This did not happen and markets reversed strongly to upside. However there was resistance at 6570-80 levels and so there was a short opportunity as shown in the second box.

Profits were nominal as markets did not move down much. Small horizontal line refers to the trailing stoploss where short trade got exited.

Tomorrow, trade short only if markets break and trade below 6520 F.

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