Day Trading Stocks & Futures
- Thread starter TraderRavi
- Start date
- Tags banknifty bnf daytrading nifty future
re: Day trading Nifty & Banknifty Futures
This is a fantastic post. :thumb:
Thanks ST da. :thumb:
It seems, you have decided not to keep any secrets.
If understood, this one post can TOTALLY CHANGE life of a trader but sadly I am busy with picking tops/bottoms, trading markets that I dont understand , picking quarrels with fellow brothers and other time wasting actions....
Regards,
Gaur_Krishna
Posting Nifty Futures 5 min charts. I have put 2 day VWAP bands which I use a lot for profit booking, entries, adds etc.
I have marked yesterdays uptrend as well today's downtrend. The uptrend which had started yesterday continued in the morning so there was a buy right in the first bar of the day. I have not marked the long trades as they are simple. The levels marked in red lines are the levels where the trend has changed from up to down.
The first trend change indication came when NF broke 6246....then second confirmation at 6241. The last and final call for the bears to check in and board the flight was at 6215....after that few more places where one could have gone short are shown in red.
The upswing is shown in green...downswing shown in red....
See the beauty of VWAP bands...how VWAP proved to be a resistance in the upward correction in downtrend. Finally the profit taking area is marked in red ellipse in rose band support area.
Smart_trade
Note : I am also posting the same chart in my Ideas on Day/Swing trades thread so that it could be useful for people in future.
This is a fantastic post. :thumb:
Thanks ST da. :thumb:
It seems, you have decided not to keep any secrets.
If understood, this one post can TOTALLY CHANGE life of a trader
but sadly I am busy with picking tops/bottoms, trading markets that I dont understand , picking quarrels with fellow brothers and other time wasting actions.... Regards,
Gaur_Krishna
Posting Nifty Futures 5 min charts. I have put 2 day VWAP bands which I use a lot for profit booking, entries, adds etc.
I have marked yesterdays uptrend as well today's downtrend. The uptrend which had started yesterday continued in the morning so there was a buy right in the first bar of the day. I have not marked the long trades as they are simple. The levels marked in red lines are the levels where the trend has changed from up to down.
The first trend change indication came when NF broke 6246....then second confirmation at 6241. The last and final call for the bears to check in and board the flight was at 6215....after that few more places where one could have gone short are shown in red.
The upswing is shown in green...downswing shown in red....
See the beauty of VWAP bands...how VWAP proved to be a resistance in the upward correction in downtrend. Finally the profit taking area is marked in red ellipse in rose band support area.
Smart_trade
Note : I am also posting the same chart in my Ideas on Day/Swing trades thread so that it could be useful for people in future.
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