Day Trading Stocks & Futures

[AFORASTRO]

re: Day trading Nifty & Banknifty Futures

Better way was buy calls or futures after the trend changed ie above 6200.
Smart_trade

sir i have a question how can i come to know that 6200 level was trend changer.Sir was it physiologically or technically..... or sir was it purely on the basis of ril and IT sector

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

sir i have a question how can i come to know that 6200 level was trend changer.Sir was it physiologically or technically.

Technical.....just see 3 min or 5 min NF chart. Very clearly seen there.But for that one has to understand what is a trend, how it progresses, how it reverses. There is always a definite chart point which tells you that the trend has changed.

Smart_trade

 

[HEM]

re: Day trading Nifty & Banknifty Futures

Today again the market proved that if we sense a trend day, then selling every rally and buying every dip does not help as there is a danger of loosing our position in such "fancy dancing"...just buy and hold till the end ,just watching that the trend is intact, is a way to go....but a very tough task needing tremendous mind control.

Todays market action has all the ingradients of a trend day. I had outlined those in one of my old posts.

Smart_trade

Yes ST brother......really it is very tough task and needing tremendous mind control.


HEM

 

[jagankris]

re: Day trading Nifty & Banknifty Futures

FYI........
V. Balakrishnan left INFOSYS, so monday maybe Gap down opening in Infy.

Though Infy at all time high and upside is limited from here.
Infosys has survived these kind of board members quitting infy.
Only 3 founding members are still with Infy.NRN,Kris Gopalakrishnan and Shibulal.
N.S Raghavan,Nandan Nilakeni,K.Dinesh,Ashok Arora resigned,quit Infy earlier.
Should not be a great shock for Infosys.
And reversals happen with good news and not bad news

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

.... or sir was it purely on the basis of ril and IT sector

The reason could be anything, RIL,IT,Banking but there is a point at which Nifty trend changed. And that is all that is needed to make money...who cares what made it change the trend.

ST

 

[RAAMAKANT]

re: Day trading Nifty & Banknifty Futures

Though Infy at all time high and upside is limited from here.
Infosys has survived these kind of board members quitting infy.
Only 3 founding members are still with Infy.NRN,Kris Gopalakrishnan and Shibulal.
N.S Raghavan,Nandan Nilakeni,K.Dinesh,Ashok Arora resigned,quit Infy earlier.
Should not be a great shock for Infosys.
And reversals happen with good news and not bad news

I haven't said that there will be swift fall or it will be Doom's Day for Infy....

For someone Monday will give buying opportunity and selling for another, so its just matter of individuals perspectives.

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

Right from the beginning today, the advance /decline ratio was very good with over 3 stocks advancing for every stock declining. This also was supporting that a big day is at hand.

I always keep an eye on A/D ratio and midcap index...that gives additional confirmation that the trend is strong and durable...it helps to hold and add to the positions.

ST

 

[jagankris]

re: Day trading Nifty & Banknifty Futures

sir i have a question how can i come to know that 6200 level was trend changer.Sir was it physiologically or technically..... or sir was it purely on the basis of ril and IT sector

Price initially broke the opening range on the downside.
The VWAP was hovering around 6190.
Nifty Above 6195 - the price broke the opening range.
The Daily pivot was 6205.
Technically above opening range bullish + above pivot bullish.
So confirmed a trend change/reversal.

 

[Cubt]

re: Day trading Nifty & Banknifty Futures

Right from the beginning today, the advance /decline ratio was very good with over 3 stocks advancing for every stock declining. This also was supporting that a big day is at hand.





ST

smart,

I have a qquestion, today I was day trading with options, nifty CE 6200. I entred the trade after 1pm when the nifty was holding firmly above 6225.bought at 60 and sold at 70 and made 10k profits in few mins in sudden spike.

However, I bought again at 70 and there was a support arounnd 65 in nifty CE 6200 chart. So placed stop loss at 60, around 2pm there was a sudden 20 points fall in nifty due to tat nifty call 6200 came down to 56 and hit my stop loss.

Later end of the day it reached 110.



My question is how do we set stop loss for trading options for intraday? Should it be any percentage level from cost price,or based on nifty levels or based on nifty option chart??

 

[Smart_trade]

re: Day trading Nifty & Banknifty Futures

smart,

I have a qquestion, today I was day trading with options, nifty CE 6200. I entred the trade after 1pm when the nifty was holding firmly above 6225.bought at 60 and sold at 70 and made 10k profits in few mins in sudden spike.

However, I bought again at 70 and there was a support arounnd 65 in nifty CE 6200 chart. So placed stop loss at 60, around 2pm there was a sudden 20 points fall in nifty due to tat nifty call 6200 came down to 56 and hit my stop loss.

Later end of the day it reached 110.

My question is how do we set stop loss for trading options for intraday? Should it be any percentage level from cost price,or based on nifty levels or based on nifty option chart??

You are right...around 2:00 pm there was a deep dip which gave a doubt of a trend changing to down...many stops were hit there but market did not confirm the trend change and it resumed its uptrend. That is the time I posted that if the market now breaks the top of the day and goes up, many shorts will be trapped and they will run amuck towards the end of the session to cover and thereby adding fuel to the fire.

So nothing wrong in getting stopped out...but re-enter when the trend resumes is the way to go.

As a thumb rule, if nifty declines by more than 30 points from the top, there is a good chance of uptrend ending.....as intra-trend dips during the day rarely go below 30 points.

Smart_trade