There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Wednesday, January 22, 2014
Nifty opened within previous day range. Broke below PDL and BRN.Then bounced back. Went long on the break of IRH/DO. TP when BO of PDC failed. Attempted a short below MSP /PDC /. This trade failed. Thought of going long above the range high as it was a TRAP pattern . This trade did not trigger. Nifty channeled down for a while and suddenly spiked breaking PDH and RN and finally closed above PDH.
I wonder what was the reason for this sudden spike. It was not in Bank Nifty.I don't like the opening and closing price action. Something is cooking up.