Today was the expiry day so some wild gyrations were expected. The market opened on positive note with a Gap Up (yes once again Fade the Gap trade and the target was the yesterday’s close). I took the trade infact now I am kind of getting the hang of this set up. After filling the gap we started a very slow and a tiring move up (it was really boring!) as if we were bidding our time till Europe opened. With a negative opening on that front coupled with some profit taking Nifty took a plunge (yes I am short in May futures at 5037 with a stop at day’s high). The Battle Royale was 5000 mark! Right now on intraday charts the base (4998) of our breakout gap (on 21st April) is providing the support. If you take a look at the dailies on the right side you will notice, that we seem to have moved into a box. This range between 200 DMA ( hamein jeenay nahi degi!) and 50 DMA ( hamein marney nahi degi) will be frustrating, and till the time we are trapped in between these two, we just might have to be very patient, and take whatever comes as loose change to us. Better idea is to take a dekko at RS of stocks that are performing better than Nifty and trade in them. And why I am suggesting this??? Read the following quote...
"Opportunities multiply as they are seized."
Sun Tzu
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