Posted by Though it was Sunday The market was kept open intentionally so that the market doesn’t open gap up/gap down on the following trading day.
When Watching the budget. Watch it on Sansad TV and not any news channel to avoid noise and distractions.
Watch it on satellite TV or on Sansad TV youtube channel.
At 12:10, The FM Madam started reading the buyback tax paragraph. Nifty reacted quickly. Below is the 30 second chart:
From 12:11:00, nifty started reacting negatively. After this followed the increase in STT paragraph and again aptly the nifty reacted negatively. You can see the three red candles from 12:11:00 to 12:12:30, aligning with FM Madam’s Speech.
In these 90 seconds the market fell by nearly 180 points. Breaking the support of 25250 and starting it’s long journey towards 24600!
It was a great selling opportunity with good Risk to Reward Ratio. At least 1:3 and Max 1:4
Subhashish Bhai Traded This. See it here on his Instagram
This is News Based Trading that Rakesh JhunJhunWala describes in his below Feb 2008, interview with Prabhu Chawla.
Rakesh JhunJhunWala Feb 2008 Interview
See This Post