yesterday's position is squared off with 6.2 points loss. and shorted at 5291 thinking market go down since it opened with -ve bias. but price moved up to 5314. with 20 point filter i squared off at 5311.47. also ORB triggered on +ve side. but after touching 5314 price started coming down. again at 5291.2 took short. i could not understand sir's comment on @5264 NS. i mistook his advice and squared off at 5288.5. later even though price is moving down i just observed and did not trade.
as price closed above WLEma yesterday i thought reversal might happen. hence i took long yesterday. later i understand "closing above/ below weekly values indicate sideways movement for the next day or so, especially when Day and Hour closing below/above values. Ms. Smita helped me to understand this. today also scenario as yesterday with little difference ie., Hr closes are erratic. i will wait tomorrow and observe. also JNSAR value is 5375. there is a time to take trade.
as price closed above WLEma yesterday i thought reversal might happen. hence i took long yesterday. later i understand "closing above/ below weekly values indicate sideways movement for the next day or so, especially when Day and Hour closing below/above values. Ms. Smita helped me to understand this. today also scenario as yesterday with little difference ie., Hr closes are erratic. i will wait tomorrow and observe. also JNSAR value is 5375. there is a time to take trade.
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