Market opened with a good gap. I thought , there is a very high chance of getting the gap filled at least partially. So I decided to wait.
As expected, it pulled up just after opening. The undertone is bearish . so there is no point in going with the pullback. Patience pays.
As shown in the attached 5 Min chart, I saw the rounding top. But I needed a confirmation. So, waited some more and , finally my trade got triggered. a SHORT.
My stop is just above today's high , so that the losses are a bare minimum, in case Market reverses.
I would like to believe in all my intraday trades , that any time it could move against . So, better to keep the legs on " Brake", just as a caution.
This time, I am going for larger no of lots with small stop loss. A bit aggressive, but the undertone of the market demands that or rather provokes you.
Anyways, let us see how the trade goes. Hope to make a killing today.
There is still time to take a SHORT trade. NIFTY is hovering around a couple of points now.
* Click on the chart to have an enlarged view.
