NIFTY Futures Mechanical Trading

[raj567]

hello vinod ji,plz explain 1.in one of your earliest post you said u place stoploss order before maket open 6 point below or above support/resitance 2.in other post u said when resistance/support is breached u wait for 2-3 min before changing your position.how both are possible. iam asking as new to market.THANKS

 

[columbus]

Hi Columbus & Vinod Ji,

Thanks for your guidance for calculating Support & Resistance.
Kindly, guide, i have calculated the levels :

Today's HIGH (h), LOW (l) and CLOSE (c).


Pivot(p)=(high+low+close)/3

Resistance=2p-l
Support=2p-h


4537 4395 4443/3

4458

R = 2x4458-l=8916-4395=4521
S= 8916-4537=4379

Are my calculations right ? coz, vinod jis, levels are different from mine.
Kindly guide.

Regards

Your calculation is correct.

 

[nadodav]

NIFTY FUTURE For July 28,

Current position : SHORT (at 4331 on 25/07/2008)

Nifty Fut Closed at : 4329.65

Profit/Loss in current trade : +01.35 (as per last closing price)
Net Profit/Loss since thread started : +2117.35 (2116.00+01.35)

Support : 4308
Resistance : 4436

Hold SHORT position with SL 4436. If trades above 4436, exit SHORT & go LONG with SL 4308.

Happy Trading.

Vinod

 

[pdurai]

Hi members
What about this week trend?

 

[praveen taneja]

HI VINODJI,
I has been tracking ur level i found the the gap between ur stoploss or ressi in camarision with open fig is almost of 100pts which is quite big in number why is it so?

good question it will benefit to all thnx

 

[nagendra_gb]

NIFTY FUTURE For July 28,

Current position : SHORT (at 4331 on 25/07/2008)

Nifty Fut Closed at : 4329.65

Profit/Loss in current trade : +01.35 (as per last closing price)
Net Profit/Loss since thread started : +2117.35 (2116.00+01.35)

Support : 4308
Resistance : 4436

Hold SHORT position with SL 4436. If trades above 4436, exit SHORT & go LONG with SL 4308.

Happy Trading.

Vinod

Vinod..

Are we long now on nifty ?

 

[nadodav]

hello vinod ji,plz explain 1.in one of your earliest post you said u place stoploss order before maket open 6 point below or above support/resitance 2.in other post u said when resistance/support is breached u wait for 2-3 min before changing your position.how both are possible. iam asking as new to market.THANKS

you can place 6 points below/above SL order, if you are not all the time against screen. better way is - look for both. i.e. 5-6 points above/below or 2-3 minutes above/below which ever occur first change your position.

 

[nadodav]

HI VINODJI,
I has been tracking ur level i found the the gap between ur stoploss or ressi in camarision with open fig is almost of 100pts which is quite big in number why is it so?

SL keeps changing everyday & range is depends on past movement & of index. For positional trades, around 100 points SL is quite common and i think acceptable.

 

[nadodav]

NIFTY FUTURE For July 29,

Current position : SHORT (at 4331 on 25/07/2008)

Nifty Fut Closed at : 4337.15

Profit/Loss in current trade : -06.15 (as per last closing price)
Net Profit/Loss since thread started : +2109.85 (2116.00-06.15)

Support : 4323
Resistance : 4394

Hold SHORT position with SL 4394. If trades above 4394, exit SHORT & go LONG with SL 4323.

Happy Trading.

Vinod

 

[nagendra_gb]

NIFTY FUTURE For July 29,

Current position : SHORT (at 4331 on 25/07/2008)

Nifty Fut Closed at : 4337.15

Profit/Loss in current trade : -06.15 (as per last closing price)
Net Profit/Loss since thread started : +2109.85 (2116.00-06.15)

Support : 4323
Resistance : 4394

Hold SHORT position with SL 4394. If trades above 4394, exit SHORT & go LONG with SL 4323.

Happy Trading.

Vinod

Yes understood now