Results for 25th Nov 2020

Here are the results for 25th.

Trades in 2 counter. HDFC Life and BNF. 2 worked and 2 did not.

HDFC Life: Took the trade at the break of the ATH at 678 in futures level but I traded cash as I was trading a direct break out and wanted to carry less qty. It gave a nice move and booked 1% in half and trailed the rest with SL to cost. The second trade was when the market bounced back from the crucial level of 13k and I was expecting it to move higher. The rationale was that this counter (HDFCLife) was strong and would have revisited the DH, and also that it was the first time it made a HH and HL after the down move from the high of the day . Did not work and hit the  SL.

BNF:  Took 4 trades here but could not post the last 2 trades in the Telegram channel on time as the move was very fast and I was in and out before I could have posted the trade. It did give heartburns to few subscribers but please bear in mind that it is not possible sometimes for me to post a trade where there is a scalping opportunity. It is just too fast. Sorry for that! In hindsight they were the trades that gave a profit. I have marked the rationale on the charts and I hope that it shall help the readers to understand and try and take these kind of trades on their own in future. These kind of setups occur frequently in BNF/NF. You may ask me any questions incase any clarification is required. Will answer to each and every query to help.

The first entry was based on the continuation of the upmove after the gap up. I was expecting a nice upmove in BFN based on the previous days closing. The second entry was the reversal and attempt to climb above the PDH. Both were traded through options. Both hit SL. The 3rd entry was when it failed to trade above PDH after repeated attempts and reversed, I took the short trade through buying puts. This moved well and I took another trade looking at the volume profile and speed. Refer chart.