Friday, April 6, 2018

Moving on to newer scrips

Today, NIFTY opened very tepid, and was inside yesterday's range for most of the day. I got bored and had to look at other scrips, but it was quite late. I was trading the scrips after the day's major move on the scrips had already happened.

NIFTY


My Nifty trades today were a fiasco. Initially, I was watching only NIFTY, but soon got bored of the inaction and traded a couple of Stock Futures. Later, NIFTY broke out from its range. Off course, I missed the breakout because I was not watching. Then, I managed a decent short at 10268 when the momentum stalled.

Since, I was watching other scrips during the day and lacked focus, I shorted with only 1 lot. Then, I placed the Stop Loss order with my full position size, but entered the price incorrectly as 102xx instead of 103xx. The typo had caused me to go long, but I reversed to short immediately. Could not catch the full move since the position was auto squared-off.


Nifty M3 Price Action Chart
Nifty M3 Price Action Chart



BHARTIARTL


Saw the news about Bharti Airtel crash on my twitter feed. So I was looking at the chart after the crash had already happened. Tried to catch the price bounce after the crash. That did not work out, but a reversal to short was decent.


Bharti Airtel M3 Price Action Chart
Bharti Airtel M3 Price Action Chart



JUBLFOOD


Jubilant Foods has been making new highs for sometime. I looked at the scrip quite late. After the Airtel trade had closed, I was mainly focusing on LUPIN. I looked at JUBLFOOD, only when LUPIN did not form the pin bar I was hoping for.

I took a with trend pullback long in JUBLFOOD, but could not hold on.


Jubilant Foods M3 Price Action Chart
Jubilant Foods M3 Price Action Chart
















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