Shillong :: Day begins with a exercise, after sweating, freshen-up and settled down to analyze the world market.

Over View:

US market traded flat, with the FOMC meet likely to decide the future course and direction. Expecting a flat opening of Indian market too.

Marked important levels in BANKNIFTY using Price Action and Market Profile in Gocharting.

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THE WAIT & CONFIRMATION OF THE TRADE

As anticipated market opened flat to bearish in future chart, points noted and observed:

• Market opened near Composite POC level- an anticipated support level.
• 1st 5-min Green Candle formed – means Limit buyers have become active at this level
• Delta was red – indicating selling pressure
• Trade Book- Bulk orders in buying seen around this time
• Expecting a positive move, for short scalp.
• Also Checked the heat map looks positive.

TRADE BOOK

Entered limit order for ATM Put Sell on Banknifty with bare minimum qty, will further add if it goes in my direction.

ORDER BOOK

POSITIONS

The Move

P&L

As I was busy in other work, I didn’t add any trades even though it went in my direction. Just continued trailing the gain till it hit trailing stop loss. Finally closed the day as below:

Fund Used : Rs. 2,179.50

Gain/Loss : Rs. 1,593.75 % of Gain : +73.12%

No. of Trade : 1