March 18, 2014

Intraday analysis

Initial bias was bullish though it was a difficult to take a long position as markets in recent past were unable to cross 6600.

The box formed just after 11 am shows the failure of the initial bullish bias as there was no follow through buying. The first sell got generated just after break of the box on the downside (breakout on the upside would have been bullish).

Trailing stoploss stopped out the trade at a 30 point profit at 6540 F levels.

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