Short Sell Century Textiles - Success
Today lot of brokerages gave a buy on Century Textiles and it started moving up after market open. But the stock started falling down, overall Nifty was also weakening. I know that the stoploss for most of long trades were previous close and 412-413 for day traders. Luckily this support broke and I entered a short. Technical reasons for shorts are explained in the charts. The stock fell down after the short very quickly , so I took few points profit and closed the trade.
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| Century Textiles - 5 min chart |
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| Century Textiles - Square Off trade |
Short Sell DLF - Success
My second trade on DLF. There were lot of buy call on DLF from brokers, yesterdays business standard paper had given a sell call on DLF. So I was looking for some sell signals in DLF. It went up in the beginning, but started falling with Nifty. When Nifty broke days low, DLF also broke the days low and pivot. Lot of buying positions would have had days low/previous close / pivot as stop loss. Crossing that is an excellent opportunity since stock will go down at least due to SL triggers before bouncing back. This is what exactly happened here. See the charts.
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| DLF Entry - 5 min chart |
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| DLF Entry - 2 min chart |
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| NIFTY - Crossing days low at the time of short selling DLF. This explains the importance of co-rrelating some of the trades with NIFTY |
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| DLF Entry - 30 min chart |
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| DLF - Square Off trade |
1 comments:
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