May 6, 2015

NIFTY futures intraday charts

- break of historical intraday support @ 8300 was trigger for short trade
- in reality, the rather large bar of almost 100 points would have made entry very difficult
- one could have taken a short position in the previous bar but this would have been at support
- the only low risk short trade was in the box formed around 11am.
- it is important one identifies low risk trading opportunities and skip ones where initial risk is high.
- if you are not comfortable with risk in a trade, skip it.

Tomorrow, look for strength above 8200-8220 F...

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