Banknifty 15-Apr-20

  1. Long Scalp trade – IRH SPB
  2. Long Scalp trade – IRH SPB
  3. Short scalp trade – IRH SPB (no profit/ No loss)
  4. Short scalp trade – IRH CPB
  5. Short trend trade – IRH SPB. Had to scalp it as momentum was missing.

BNF was in a range within a range. Gap up indicated buyers intent. In a range, levels are usually respected. Hence decided to scalp till momentum develops. Prices reversed and momentum was missing in reversal. Decided to stay aside and watch, and failed to catch the downmove that followed.

In hindsight it looks like a miss. At trade time, in morning session, upwards momentum missing, then after price failed to makes new highs, downside momentum was missing. The strength in downmove came much later. Could not find any low risk entries.

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