Sintex +WW formed. Target around 110+. SL 80.
August 6, 2014
August 5, 2014
BN, Hindalco double top
BNF & Hindalco made double tops and could not sustain above the previous highs. Shorted below failure to sustain candles (BN 15350) and took profit at resistance near 15220.
August 4, 2014
Hindalco Aug Future 5 min Chart
Today BNF trade stopped out due to tight stop loss.
Missed earlier oppertunity to short Hindalco at 188 on IR(initial range) BOF(breakout failure).
Bought at BPB @187.25, and took profit early at 190.5 at closing hours.
Decision to buy was prompted due to size of candles during correction from days' high of 189.30 to 186. The candles were small. The correction took more time than value. It was bouncing from a 61.8% level of previous rise from 184.3 to 189.3.
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