Nifty Futures Positional Trading

[jamit_05]

0.50 Ret of yesterday's move done.

Now comes the real test of this up-move.

 

[timepass]

0.50 Ret of yesterday's move done.

Now comes the real test of this up-move.

I think 50% comes at 6054. This is 38.2%.

 

[jamit_05]

I think 50% comes at 6054. This is 38.2%.

I started Fib calculation from 6102.70, which was yesterday's significant intraday pivot (and not HOD). Nonetheless, 0.382 is also a significant Ret.

 

[jamit_05]

One could probably buy a small qty at abour 6020 levels with a small stop, target 6040.

Let me see if 1 min chart gives any basing formation.

 

[jamit_05]

Pullback turned out to be nasty. Price will have to win the battle of 6041 to scale up.

SL is holding; 6002.45
Did not take more entries because it was below (way below) my original entry.

 

[jamit_05]

SL Hit. The struggle continues.

Hope to get a sustainable entry tomorrow. Closing shop for today.

 

[sridhar]

I am looking @ 5989 (nifty F1) as a strong level which needs to be breached before down move will be in place.

Strong resistance Levels on downside are 5907, 5882 & 5845.
On upside levels are not a strong at 6033, 6086 & 6109.

Am short from around 6086 levels ( in options).

But Options data is indicating a dip to around 5900 before a possible restart of up-move.

 

[jamit_05]

Took a short entry at 6025.10 with a SL of 6046.10

This is risky because break of current HOD will cause a blast. SL is already punched.

Strong support of yesterday's low will give a tough time breaking.

 

[sridhar]

In all possibility today is going to be a flat day. I get the feeling this will be only a pullback move for a day or 2, so be alert on taking profits.

Only a fall below 5770 seems to be a level for confirmation of a long term down trend, though quite a few people seem to be looking at 5850 levels.

 

[manojborle]

next halt near 5966, 5943, 5925 and 5890