Follow up days are difficult to trade.

After a big move (an Range Expansion) the next day is expected to be a follow up day. But, the bulls need rest, and the day is likely to turn choppy. While a gap up is possible, pric es may ot be sustained at higher levels. At every dip there may be buyers while rallies could face selling. This may lead to some amount of choppiness.

The ABC idea. This is a political comment. As a citizen of India, I have a duty and responsibility to my country. The congress has ruled this country for 62 years. We have ended up with corruption, poverty for the masses and riches for the super rich. Not a good deal for 115 crore Indians. They (congress) really need some rest. The heavens will not fall if alternate govts are formed – third front or nda. Change is often good for the country. What is ABC ? Anybody But Congress.

How did you trade yesterday ? The Nifty opened with a gap down then rallied almost 170 points through the day. before the open, in this column I had suggested two methods : (1) buy after a big dip, or (2) sell only on a test.
There was no big dip, and certainly no test of earlier tops. So, as traders we understand that the market is not going to move in either of thse two ways. A breakout above the first 15 minute range is the first sign that the trend is UP. Go for it. Long positions created in early morning, lasted throughout the day. A day traders dream day.