Daily charts:
- trend is up on daily charts (wef today)
- today markets closed 5.3% in positive at 11274
- AD was 13:5
- today was biggest green candle in past 4-5 years
- I call this the Nirmala Sitharaman candle (history was made)
- as it came on back of heavy reforms
- these reforms were actually like a budget except that
- it was more bolder than what was presented in the past
- wish this was done before
- the size of the candle and location means 10600 may hold this year
- resistance around 11600 levels
- today a lot of people lost money by taking wrong positions or
- not having any risk management
- sometimes you may miss a move... this is ok
- but do not ever get caught on the wrong side
Was there any hint of trend reversal?
- yes... number of stocks making new 52 week lows had dropped dramatically
- a lot of buy signals were coming in delivery trades which we took
- but in nifty unless some swing high is crossed, you cannot trade long
- it is then sheer bad luck that a market gains 5% in a day and then crosses swing high
- so the key takeaway is you cannot capture every single move
- yet to meet a person who has been able to do this consistently (trollers please note)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj61G0AvXZNRAsV8FGQWxStYsfOkZRpoAw25rTH1A-JRqawHeTPFsxfAUWOntDqUG4tsF0C5NgeF723HiaBb7PX8Clb8rIr-LRbgiwb8Taxo7haS9a24Ag5-zYHH1FyicrZM6rAzIgNgJGw/s640/a.png)
3 min charts:
- yesterday I wrote key levels were 10680 and 10840 F
- one should trade breakouts or reversals around these levels
- this is my strategy everyday
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbJJPmb1cGZ3zVW448BdYt5Jf5x28CNWUg7RD13te2G74XoFcy5lVpewMYAHWNAmWRBb5vDYrIY9zb8JdN5yJgrM3mH-zdZAyxDz09_OQZANyKpdn7kMDkW42q4tZ4mslhX5VP05mdujXg/s640/a.png)
- today first 30-40 min was boring
- traded long and got stopped out
- and then the breakout happened
- the moves were too fast and large
- see scaling of chart...each grid is 100 points big!!!
- this is the final chart
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_gOY-3g4KhUHO31pgdUskk7sv3EYLXSHGUxuJ1o-FlpFMtqOrFnhY30oL7RYUnGga5s2xnS5zDMw9iX83y7t0FhcCQTvA-bChkOKll7_VJFsa6eT_uuB4PxMlvSgRsJX42dmhvJ0uwngU/s640/a.png)
- and these are my trades
- I missed the first bar but got in the trade around 10850 F
- biggest problem was the SL but I decided to trade OTM calls
- I bought and sold multiple times
- each trade was only 1 lot due to deep SL
- unfortunately the moves were too fast and large
- see scaling of chart...each grid is 100 points big!!!
- as you can see the first trade was a loss
- last trade is positional
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5QW1X5Ew9fwPEMN2lN0OLn3ZxPiYi0-e1nbSiqC0qPusjSghddOgFTf_o2w7GasinLlO4XGZaGG0LbgoteSSg90S8QGN-lTtMyfyTIuZhP3PbpRpN59HXeQqOBwUQ4rOYCX2SUKXLHPzf/s1600/a.png)
- trend is up on daily charts (wef today)
- today markets closed 5.3% in positive at 11274
- AD was 13:5
- today was biggest green candle in past 4-5 years
- I call this the Nirmala Sitharaman candle (history was made)
- as it came on back of heavy reforms
- these reforms were actually like a budget except that
- it was more bolder than what was presented in the past
- wish this was done before
- the size of the candle and location means 10600 may hold this year
- resistance around 11600 levels
- today a lot of people lost money by taking wrong positions or
- not having any risk management
- sometimes you may miss a move... this is ok
- but do not ever get caught on the wrong side
Was there any hint of trend reversal?
- yes... number of stocks making new 52 week lows had dropped dramatically
- a lot of buy signals were coming in delivery trades which we took
- but in nifty unless some swing high is crossed, you cannot trade long
- it is then sheer bad luck that a market gains 5% in a day and then crosses swing high
- so the key takeaway is you cannot capture every single move
- yet to meet a person who has been able to do this consistently (trollers please note)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj61G0AvXZNRAsV8FGQWxStYsfOkZRpoAw25rTH1A-JRqawHeTPFsxfAUWOntDqUG4tsF0C5NgeF723HiaBb7PX8Clb8rIr-LRbgiwb8Taxo7haS9a24Ag5-zYHH1FyicrZM6rAzIgNgJGw/s640/a.png)
3 min charts:
- yesterday I wrote key levels were 10680 and 10840 F
- one should trade breakouts or reversals around these levels
- this is my strategy everyday
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbJJPmb1cGZ3zVW448BdYt5Jf5x28CNWUg7RD13te2G74XoFcy5lVpewMYAHWNAmWRBb5vDYrIY9zb8JdN5yJgrM3mH-zdZAyxDz09_OQZANyKpdn7kMDkW42q4tZ4mslhX5VP05mdujXg/s640/a.png)
- today first 30-40 min was boring
- traded long and got stopped out
- and then the breakout happened
- the moves were too fast and large
- see scaling of chart...each grid is 100 points big!!!
- this is the final chart
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_gOY-3g4KhUHO31pgdUskk7sv3EYLXSHGUxuJ1o-FlpFMtqOrFnhY30oL7RYUnGga5s2xnS5zDMw9iX83y7t0FhcCQTvA-bChkOKll7_VJFsa6eT_uuB4PxMlvSgRsJX42dmhvJ0uwngU/s640/a.png)
- and these are my trades
- I missed the first bar but got in the trade around 10850 F
- biggest problem was the SL but I decided to trade OTM calls
- I bought and sold multiple times
- each trade was only 1 lot due to deep SL
- unfortunately the moves were too fast and large
- see scaling of chart...each grid is 100 points big!!!
- as you can see the first trade was a loss
- last trade is positional
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5QW1X5Ew9fwPEMN2lN0OLn3ZxPiYi0-e1nbSiqC0qPusjSghddOgFTf_o2w7GasinLlO4XGZaGG0LbgoteSSg90S8QGN-lTtMyfyTIuZhP3PbpRpN59HXeQqOBwUQ4rOYCX2SUKXLHPzf/s1600/a.png)
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