Nifty Futures Positional Trading

[bajica]

Hv gone long at 5936.05 SL 28 points.

:clap:

But as have been hearing about the 5750 level, did u consider it in your study while going long? or to be frank, what made you go long now?

 

[jamit_05]

:clap:

But as have been hearing about the 5750 level, did u consider it in your study while going long? or to be frank, what made you go long now?

Hv not considered 5750. It is long gone.

Entered at BO of Daily Pivot high of 5904.35 Spot. If price reverses from here then it will be a worthy Short Trade.

 

[jamit_05]

Hv gone long at 5936.05 SL 28 points.

Yesterday, when I took the trade Premium was 12.5 points.... now it is -3

Meaning, since I am following the spot chart my risk just increased by 15.50 points.

 

[jamit_05]

Instead of plain-vanilla exit, I intend to sell CEs against the NFs to collect profit. But in due time.

Currently,

1) Chart has just had a breakout And
2) Options table is still showing upside momentum

So there seems little point in selling the CE leg or book profit.

In fact, it seems if 6000 level is sustained for a day or two then journey to 6150 should be quick, within 5 days. At which point taking profit will seem logical.

 

[jamit_05]

NF closed at a 10 pt prm that is atleast temporarily good

30min chart looks strongly bullish:

1) BO of 5904.80, a Daily Pivot, was confirmed with a higher close. Now there is little chance for a breakout failure.

2) The recent Gap-Up was not entirely filled, which is a bullish sign.

 

[jamit_05]

Next 120 min pivot is at 6131, which is one strike away. If reached, then may sell some August Options to take profit.

Looking at the HnS pattern, the target is 6080. A level at which strong momentum should cool down. It also coincides with the 120 min pivot. So lets see at that time how 30 min pivots are behaving. Suerly, BoFs of 30 min pivots or HOD break failures will be good exit points.

Next week is expiry week, so I may hv to start considering shifting NF position to August series when the gap is at the lowest... currently its 31 points... very high. But it was only 2 at opening.

 

[amitava roy]

SIR IF U KINDLY GUIDE ME WITH UR VALUEADDED GUIDELINE ON NIFTY & BREAKOUT [email protected]

 

[timepass]

Next week is expiry week, so I may hv to start considering shifting NF position to August series when the gap is at the lowest... currently its 31 points... very high. But it was only 2 at opening.

The expiry is on 25th July, isn't it ?

 

[jagankris]

The expiry is on 25th July, isn't it ?

Yes it is.
But the week starts on Sunday which is today.
So next week expiry week.

 

[anup0212]

The expiry is on 25th July, isn't it ?

Agree with you timepass....jamit seems very cautious :lol: