Shorts taken at Weekly pivot and 5day highema proved to be a dud. The negative diversion in the chart ended what looked like a perfect uptrending day and helped cover the shorts almost at par.
The trade taken was wrong as it was against the trend as well as neglected the important SAR of 5440 ,the crossing of which should have been a long trade .
Carrying the positional shorts though the aggresive s/l of close above 5440 has been hit but taking chances with the close above conservative s/l i.e 5485 .
Still the question remains that this closing above 5440 (Mon,Tues,Fri) is a trap or that happened below it (Wed,Thrus) was a trap? (Today's Option Analysis pointing to bullish possibilities.)
Have a Great Weekend and HAPPY INDEPENDENCE DAY !!!