Nifty Futures Positional Trading

[jamit_05]

The reason for booking profits on Shorts was that I feared something drastic might happen and Tuesday's price action looked very supportive, not in-line with what I was expecting a day after a break of a Major Daily Pivot Low.

However, nothing drastic happened, else SGX Nifty would have lead the change. But it closed flat. So, tomorrow I will wait for SAR to hit, or the trend to continue.

 

[jamit_05]

Earlier, I thought that the "mess-in-the-Uess" could cause price to shoot back-up. Since, money would flow to Emerging Economies. And that is fine. But SGX did not react on those lines.

Alternate point of view could be this. See the price action in the above Oval. Tuesday was an upday, but had resistance throughout the day. Bears showed a strong presence. This makes me think that this pullback might be the case of "Re-Test".

On Monday, price broke a long standing level on the hourly chart and is followed by a Retest. So, if today is bearish then we can be sure that Re-Test is playing out... and any LOD break hereon would spell massive trouble for Nifty. No wonder, Circuit limits are being revised and reasserted.

Lets see how the Forces play out.

So Plan Of Action for today is this:

Since, my Positional System is still indicating Red AND nothing drastic happened. I will re-enter my Short position as is. And Will add below Tuesday LOD.

However, if Monday HOD breaks convincingly, I will SAR to longs.

 

[jamit_05]

All Short Positions Entered at 20 points Higher. SAR is 5857.50 SPOT. NF premium is down 10 points lower today.

Intraday Trade, Short below LOD. It is a small pivot.

 

[jamit_05]

SAR hit. Short Position duly exited at 5921.40; There was a 10 odd point slippage. The profit from the last trade was 125 pts.

Long Position Entry order placed at 5910.50; SL is placed as a market order at 5859.40;

 

[jamit_05]

SAR hit. Short Position duly exited at 5921.40; There was a 10 odd point slippage. The profit from the last trade was 125 pts.

Long Position Entry order placed at 5910.50; SL is placed as a market order at 5859.40;

Got a Fill at my Order Price. Nothing like it.

Looking for intraday Longs.

 

[jamit_05]

Intraday Long at 5917.50 SL 15 points.

 

[toocool]

Got a Fill at my Order Price. Nothing like it.

Looking for intraday Longs.

look at the red value of open high low close .................3rd from the left

it says 5910.55 and the next bar low is 5911 .................how did your order got filled@ 5910.50

i am asking just out of curiosity not to be judgmental

 

[stock72]

SAR hit. Short Position duly exited at 5921.40; There was a 10 odd point slippage. The profit from the last trade was 125 pts.

Long Position Entry order placed at 5910.50; SL is placed as a market order at 5859.40;

Best to follow u .. seems u having ability to switch side when it needed .. great ..:clapping::clapping:

 

[jamit_05]

look at the red value of open high low close .................3rd from the left

it says 5910.55 and the next bar low is 5911 .................how did your order got filled@ 5910.50

i am asking just out of curiosity not to be judgmental

The charting software and even ODIN misses out the small order... It happens on SL hits as well... today it gave a lucky fill...

 

[jamit_05]

Best to follow u .. seems u having ability to switch side when it needed .. great ..:clapping::clapping:

We all help each other out. Mostly... Usually... one side or the other pans out as per expectations... at other times there are whipsaws...