Trade 0009 -1 STAR TRADE

1. Date 10-July-2012 


2.Market - NSE Nifty Futures Contract


3.Amount committed  - 2 Lots of Nifty Futures 


4.Why did you do the trade 
JNSAR(5270) and trailing stop loss between  between 3 sma and 12 sma favors Short. Nifty seems to be struck between two GAP ( 5157-5187) and (5265-5300).5187 was only Target.


5.Entry price- 5260


6.Risk  - 10 points  (bullish engulfing pattern)


7.Initial Target - Top of lower GAP -5187


8.Exit Price  - 
Piercing pattern  - lowest low of two sessions can be used as Support /Resistance (5230). Exit 1 lot at 5230 level .


Exited another  1 Lot @ 5187.


9.Analyze the trade -
Formation at Piercing pattern at 5230 level suggested  part booking.


10. Postmortem -
This trade worked as planned.


This trade is closed now.