Trade analysis 16 Aug 12

It was a quite open in the morning. As we expected bulls started hiding , and bears started coming out from woods. As we noted in the morning market started selling at 5400 levels. Market volume and turnover came down to previous weeks level. I have indicated a draining of volume after the inflation data. Market may search for new catalyst , but in coming days a positive data may be not possible. Our short position at 5400 level is still holding. I may change my strategy only above 5412. Below that I am comfortable with my short positions. As a change of trading method from 16 Aug 12 I have divided my trading plan into two. One intra day exit and second, exit after finding an end of current short tern trend. Now it seems Nifty turned to short term negative trend. So the trade analysis will be as follows.

Method 1 - Short term traders

Short entry @ 5400 -  profit Rs. 900 in 1 lot and still holding

Method 2 - Intra day traders

Short entry @ 5392  and exit @ 5382  profit Rs 500 in 1 lot .