Nifty Futures Trading Part 2 (Positional)

[renu daga]

i am in dielmna again...

eod shows down,,, and weather shows up!!!

renu

 

[Czar]

Whatever the reason we might (repeat might) see 4450 approx on monday , maybe crude maybe nsg, but I'm afraid it wont last... IMHO

 

[Sunil]

chart on daily basis,,,,4320 is teh immediate support fo this very short bull phase(of 2 days)
and then immediate 4300/4296...of this short term term form 3800

sos till we can instead of going longs,,,can short because as i stated we are near our safe band area so definitely either gap down,,,,and conjestion over 4451 area....

renu

good to see my chowkidaar in demand...
that's the stop of my positional longs....
but still, 4700 call (@ 23) is only for upcoming event & open-pop (if positive news), and 1st target 4550

let's see

 

[renu daga]

if by no chance the deal gets..stuck,,, we will defenitely see gap down,,
so i am in no position...blank..exited all my longs for time being

renu

 

[Czar]

exactly Its no trade, except minimum risk options... Its lesson I learnt from crude recently, avoid big events

 

[Sunil]

But Sunil here is the latest from Hindu

Nuclear deal at end of road
http://www.hindu.com/thehindu/holnus/000200809051320.htm

Even i am planning to enter long but do not know for sure

Sam, i just know that this govt will do ANYTHING to save face & reputation...
Money is king, when Singh is king....

anyway, one way downside from 4550 area to 4350...
at max, 4280/4300...
that's why, i took 4700 call as explained above...

also, keep an eye on stocks which are direct beneficiaries of this deal (NTPC, L&T, etc)

 

[renu daga]

i had mentioned wrong congestion area....it was 4410 ,,and now 4390 on 5 min chart

renu..

memebrs do ,, take support of this congetsion area which i specify for u all because if u see teh chart u will find nifty could not cross90 levls...

renu
and in morning straight away gap down to ,, kick my congestion band
since sunil u were not there so i fullfilled ur gap

 

[Czar]

The darn REL (REL INFRA) is already in +ve... does Anil know something from his political buddies that we dont ???

 

[Sunil]

well renu, on EOD charts,
yesterday we had an "inside day" trading... with LOD & HOD within the LOD-HOD band of Tuesday (the prev trading day)
and on parting note, czar had correctly pointed out that thursday's band needs to break in either direction...

it broke on downside, and gave initial support at Tuesday's LOD SPOT 4343 (as directed by inside-day formation....)

 

[Sunil]

so, what we have in our hand now:

The short term uptrend since 4200 level with HH HL pattern, came in deep trouble today, but still on with stop of spot 4280 (2/9's LOD)
Also, there's an apparent LH LL pattern since 4520 peak (2/9's HOD) with stop now at 4480 (4/9's HOD).

So, for monday, we have this Spot 4280-4480 levels to break on either side to define/confirm the short term trend in a particular direction.

The elusive next HL 9for ongoing intermediate uptrend) above 4160 spot in form of 4200 is still not confirmed, as 4650 needs to be broken for this.