Alpha Trade Journal: 19-Aug-2019

Alpha Trade Journal 19th August Finstor

Today was unique in many ways. But today was important for one reason – today was one of those days when you get to test the reliability of your setup. And I am happy that my setup was validated with fall in the nifty from the top.

Nifty Trades

  • Bought Nifty 11200 CE at 84 but sold in loss at 78.
  • Bought Nifty 10900 PE at 62 but sold in loss at 55.
  • Bought Nifty 11000 PE at 65 and sold at 104.

In first two trades, I was trading with low volume. As Nifty was trading near my level, I was not sure of direction and there was no clear move seen after the gap up.

Nifty Levels by Alpha Trader

Nifty was trading my the level 11138 and it was not able to divisively close above 11138. My expectation was to have one candle closing above this level on a 15 min time frame. It could not.

So the first two failed trades were taken in anticipation of a rally and I need to improve on this point.

The Short

Finally it was clear that 11138 was not strong enough to push Nifty up and I entered short with decent qty in 11000 PE. And Nifty fell amazingly well from my level, pocketing 88 points in the end.

Equity Trades

Three trades were taken today:

  • Bought Bajaj Finance at 3362 and sold at 3376.5
  • Bought Axis Bank at 685 and exited at cost (688.5 high)
  • Bought ICICI Bank at 425 and sold at 426

Axis & ICICI Bank trades were perfect but since Nifty fell from the top, these two trades did not yield any profit. Otherwise, these trades would have definitely resulted in minimum 10 Rs. profit.

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