I took 2 trades today.
Trade 1
Tata Motors had a gap-up open but sold off immediately. I had marked Friday's high, just above the 290-zone, as potential support area. But that level failed to hold, and i sold short at 289.70, with an initial stop loss above the last pivot high at 291.40. I covered half my position at 288.60 and trailed the stop lower to 290.70. I then squared-off 1/4th of my position at 288.20 and moved the stop to break-even. The remaining 1/4th was covered at 287.60. Profit = Rs. 1.45.
Trade 2
Tata Steel was plotting higher highs and higher lows since open. It formed a double top around 567.50, which marked a significant resistance zone. The subsequent break above failed to follow through, resulting in a pull-back. I was expecting prices to rebound from around 567.50 that had now turned in to a support area. When that level did not hold, i sold at 565.70, with an initial stop loss at 567.70. I covered half my position at 564.60 and trailed the stop lower to 567.30. I then squared-off the remainder at 563.60. Profit = Rs. 1.60.