Nifty Futures Positional Trading

[jamit_05]

Ready to take a positional short at 6029.35 (Spot); SL 79 points.

Open was at a 150 point Gap which placed the right level of entry is very far. If the day closes strongly in my direction I will hold. Else will exit EOD.

 

[bajica]

as per your setup today, your stoploss will hit at 6108.35 intraday or you will square off EOD at whatever price it is..
The square off will be based on whether the trade is going in your expected direction or not. Am I correct here??

 

[rkkarnani]

Ready to take a positional short at 6029.35 (Spot); SL 79 points.

Open was at a 150 point Gap which placed the right level of entry is very far. If the day closes strongly in my direction I will hold. Else will exit EOD.

What indicated a Short in Nifty today Morning? Please share !

 

[jamit_05]

What indicated a Short in Nifty today Morning? Please share !

I could say that there is a possibility of the down leg starting from here. Mainly because, Daily chart has two major pivots in this region, 6094, 6134. These will attract supply. And given that the market is now in overbought region there could be bearish consequences.

But, all of this is just talk. Lets get down to what the system says.

I was preparing for shorts below 5798 spot. But, after two small up-days market made a major gap up opening; a rare event. Last time it happened, the market reversed from that day.

Therefore,I am betting on this being an exhaustion: An attempt by market makers to trap the late-bulls. If I am wrong I will lose one unit, but will know for sure that there is more upside. But if I am right, I will get paid well around 10x.

I am using a very wide entry filter, as I am going against the prevailing trend.

 

[jamit_05]

as per your setup today, your stoploss will hit at 6108.35 intraday or you will square off EOD at whatever price it is..
The square off will be based on whether the trade is going in your expected direction or not. Am I correct here??

Yes. Just that, if I get my short entry today, then i'd want to see a strong case for bears. Most part of this gap should be covered today itself. Else I am out EOD.

 

[stock72]

Yes. Just that, if I get my short entry today, then i'd want to see a strong case for bears. Most part of this gap should be covered today itself. Else I am out EOD.

what it means? NF will back to 5900 today ?

 

[rkkarnani]

I could say that there is a possibility of the down leg starting from here. Mainly because, Daily chart has two major pivots in this region, 6094, 6134. These will attract supply. And given that the market is now in overbought region there could be bearish consequences.

But, all of this is just talk. Lets get down to what the system says.

I was preparing for shorts below 5798 spot. But, after two small up-days market made a major gap up opening; a rare event. Last time it happened, the market reversed from that day.

Therefore,I am betting on this being an exhaustion: An attempt by market makers to trap the late-bulls. If I am wrong I will lose one unit, but will know for sure that there is more upside. But if I am right, I will get paid well around 10x.

I am using a very wide entry filter, as I am going against the prevailing trend.

Amit, Your SL must have been hit !
Spot has done a high of 6123

 

[jamit_05]

Amit, Your SL must have been hit !
Spot has done a high of 6123

Did not get an entry... Entry filter was wide to ensure. And now it looks like I won't get an entry today.

 

[jamit_05]

what it means? NF will back to 5900 today ?

That would have been the condition had I got an entry. Alas!

 

[gkpc]

Amit, No, its not that he went without a trade for 12 days ! We have not understood his Excel probably ! He has not mentioned his Exit dates. It is probably that he continued to hold the position for 12 days. He is not always has position in hand but not sure what has been his longest period without a Trade.
He explained that usually the date you find of next trade is the date of exit too. Maybe exit was a day or two earlier. His trades are not always reversed, on SL being hit, at times the next trade is continued in the same direction. No doubt , he is one very disciplined trader !

Todays trades : Long overnight !
Today Short level was below 6069 : Did not trigger!
Intraday Long above : 6105.50 after 11:45 and some qty when crosses 6120 !