March 24, 2015

NIFTY intraday futures chart

- understand the broader picture which is that markets are very close to a good support
- first 2 bars were strongly bullish in light of gap down opening and fast up move.
- I went long on breakout above first box... booked profit in second box
- My bias was bullish throughout the day so did not short the market
- Went long again at second arrow and third arrow... basically added more positions
- Exited all long when markets came below third box
- Did not trade short and decided to call it a day
- Decided to trade long again as risk was minimal at 4th arrow
- Added long again near day's highs
- Exited 70-80% positions immediately as there was no follow thru buying.
- Retained 20% long positions for next day,
- In hindsight, I should have exited ALL long positions and bought again near market close.

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