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Never liked this slow channeling. Arrow marked is location where it hinted of MIRZ failure and i exited long...but slow moves didnt infuse any further confidence to short either.
Sometime it amaze me, how price behave in predictable manner even on such discontinuities - 27 Dec is Dec contract price and 28 Dec is Jan contract price ( there is no gap up opening ). I could not say that price is "too high" to take long on MA bulge....or how could it nicely grooved through MA pullbacks.
this is going to be interesting observation for rest of day. Out of 37 day of this( today ) type 23 survived upto first level ( 6019 for today ) and 5 survived upto second level ( 6028.6 for today ) and from all 533 trading days of tracking.
01-Jan-2013 : It looks very ugly on 3 min after completion..how exactly my counter trader has done right thing in trend following and how illusory my visual were at that time.