Nifty trades , scalping type, based on 5 min chart :
Long above 6210+ SL <6196 did high 6227 TSL 6209/6211
Short below 6209 SL 6229 did low 6198 TSL 6211
Now Long triggered above 6211 and holding Long , ESL = Below low of the day, will move rapidly up on the basis of current 5 min. candle close !
TSL now below 6202 !
TSL safe !
Add Long above 6221+
Exit Long at CMP ~6209 !
Reenter Long > 6221
or Short below < todays low. Risky short at CMP (6215.50)with 6221 as SAR
Best is to exit as close to Cost or nominal Profit/Loss and reenter later on a confirmed move. Mkt is in too narrow a band for comfort !
(Message from the person actually trading these levels)
Long above 6210+ SL <6196 did high 6227 TSL 6209/6211
Short below 6209 SL 6229 did low 6198 TSL 6211
Now Long triggered above 6211 and holding Long , ESL = Below low of the day, will move rapidly up on the basis of current 5 min. candle close !
TSL now below 6202 !
TSL safe !
Add Long above 6221+
Exit Long at CMP ~6209 !
Reenter Long > 6221
or Short below < todays low. Risky short at CMP (6215.50)with 6221 as SAR
Best is to exit as close to Cost or nominal Profit/Loss and reenter later on a confirmed move. Mkt is in too narrow a band for comfort !
(Message from the person actually trading these levels)
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