Big Gains in Nifty-Now for the follow through.

Today saw an almost perfect trade for Nifty traders. The best part of this trade was anticipation. On Sunday, in my previous post, I did anticipate a gap up and then an ORB trade. Both came giving a 90 point intra day gain in Nifty futures. After the first 15 minutes, traders should have gone long at 4845 approx, which was the high of the first 15 minutes. From then onwards, a trend day was evident, so hold on to your positions till closing bell at 3.28, when futures were around 4935, for a gain of 90 points.

Tomorrow, as they say, is another day. After a large range day, the subsequent days tend to be choppy. Wise action is to hold back and trade as little as possible. The ideal trade on such days is a breakout from a long consolidation in the five minute charts.

U.S. markets are doing quite well, with almost 2% gains. We could easily see follow through in our own markets tomorrow.