March 22, 2011

Failed Auction -Revisit


Few days back posted about failed auction ,what does it mean and possibility of revisit of failed auction prices in next 5 trading days.
You can read that post here

http://mercurycapital.blogspot.com/2011/02/failed-auction.html

I have marked failed auction on chart on 17th Mar,now lets see if market revisits 5528 within next two days, if there is no revisit one can assume that there is more downside.

Here is weekly profile,

As visible market is still below Value area, if it can cross 5450, then its quiet possible to revisit failed auction n may b more upside.
so looking at charts, Buying 5500 CEs with 2-3 days time frame makes sense to me.

Trade wisely!! Happy Trading :)

Posted by at

2 comments:

  1. MurAttMarch 23, 2011 at 10:21 AM

    Hey ....

    Just checked .... :)

    Thanks for such lovely (like you) logics .. will surely help newbies like me get ideas ..

    Thanks one again ...

    ReplyDelete
  2. RahulMarch 23, 2011 at 10:36 AM

    Great post! Rock on!

    ReplyDelete

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