>May 15th Trading day

Nifty gapped up and held that gain through out the day unlike last few trading days where nifty fell considerably in last hour or so,

But today last hour nifty broke out from the intraday range to close above 5100 if nifty continues to hold 5100 we would target higher resistances in coming week range for may most probably would be (4900-5300) we almost touched 4900 the other day .Today orchid did exactly what I was expecting from it after it touches 280+ can check the previous post on this here....

Lets try to analyze how Bombay dyeing may move in coming days chart is attached...

>13TH MAY Trading day

Nifty gapped up,Did sustain it for quite some time Intra day counts suggested nifty can touch 5090-5100 before plopping back ,
But nifty came back crashing from 5060+ and was not able to even sustain 5000 bad stuff,Actually gap ups are usually a short in morning ,But did not do it may be it was not my day :)few stop losses were hit in morning though was able to recover in the eve by some jobbing shorts.

A lesson learned today some times when things look easy they are indeed easy(shorting at gap up).

Regards
Rish

>13th MAY NIFTY INTRADAY

>12th May Trading day

Hmmm roller coaster day Nifty plopped down hard and then came up smartly it usually not easy to trade news days

Today IIP data was awaited,A short trade in IFCI was done in morning usually when it is seen that nifty is witnessing free fall its good to short weak stocks provided you are fast enough or can trail with stop profit(it is a stop loss which is initiated when the trade is in profit for us to make sure it remains in profit )well nifty recovers smartly only to be beaten down again to the days low because of bad IIP data.


Tried another short in IFCI but it did not perform accordingly also nifty started to show strength trade was covered in loss before the stop loss.Since IIP data was bad it was really tough to take a long call suddenly as the nifty started to buzz in positive direction,
But when even market breath started to turn positive it gave confidence and few small trades were initiated in ISPAT IND ,WELGUJ and HDIL which did well rather should say quite well before the Market closed.Today CAIRN was a big miss trade though we did discuss that few trading days back exact same pattern was seen today too to see the old pattern click here...

Todays analysis is again on CAIRN chart attached.