re: Day trading Nifty & Banknifty Futures
Hi Dan,
Mini S&P 500 is in uptrend but currently a minor downtrend is in progress. I would short the market at little below 1760. Is 6-8 points a tradeable move in that market ?
Just guessing where you would have shorted.
Have a great trading day ahead.
Smart_trade
Well, I shorted in the morning at 1758.50 with a few lots.
Then had my targets during pre market hours and reduced my lots constantly until I was out with every lot.
Doing 6 -8 Points is in some days very easy and in other days you do not make it. But it is all about MM and how many lots you want to trade. No indicator needed to trade that and get that profit.
After that was not sure what market will do. So was waiting for an entry I could take a go for a long for at least a two points. Target was not 100 % fixed, as I was not sure if any will be reached with that vola. So toke my profit at 1757.50 with the idea, that vola is not very strong.
Again was not sure what is coming now. Then went short at 1756.25 and took profit at 1754.50 as I was happy with what I had in my hands.
Now market is still dancing in the range and now we have reached again resistance levels at 1757. Vola is low, but certain pattern appear, so went short again now with a clear stop loss.
Take care / DanPickUp