Nifty Futures Trading

[rishig38]

usually in case of double top , the market does not give time to breath or think, it just hits & runs, IMO still no sign of weakness, so picture abhi bhi baki hai mere dost... this is a pause combined with a bear trap, this is just IMHO... we need to close above 4611...

Since the 200 day EMA is around 4750, do you think we should short at that level? Or can we go long now? Is this current uptrend just a rally in the bear market or its start of a bull phase?

 

[uasish]

Resistance @ 4648.00

 

[lalpar]

sHORTED AT 4634..sl 4642

 

[uasish]

lalpar,

In my case i would have put a Stop @ 4638.05.

Asish

 

[lalpar]

lalpar,

In my case i would have put a Stop @ 4638.05.

Asish

Sir I have taken the days high as STOP!!!

Regards
Lalith

 

[uasish]

OK; best of Luck Lalpar for to-morrow.

 

[rishig38]

i would not advise carrying forward of any position...
as i had said earlier, nifty is in "over-bought" condition... but just a high above 4616 was required.....
no damage to mid term bull run now, if cooling starts

Tina, do you think Nifty would fall once it comes close to its 200 day EMA which is around 4750? Or would nifty keep on moving up?

 

[lalpar]

OK; best of Luck Lalpar for to-morrow.

Thanks Sir,,Have taken home the position!!

 

[rishig38]

positional shorts is advisable near spot 4680, as one can keep a stop of spot 4680 (prev peak) and/or spot 4700 (round figure resistance) ... if 4680 comes, that is

lets say we do short around 4680 or 4700 level, then at what level should we cover these shorts and also put in a stop loss? What is the near term (week) and long term (3-4 weeks) target for Nifty?

 

[lalpar]

take care, dahling, i hope it was small qty...
spot has closed above 4616 peak....

if possible, try to cover it near 4600/4590 spot... more downside possible ONLY IF IIP nos. are bad

yup..as decided SL 4642..if market opens above this then will cover the shorts!!!.. Shorted 1 lot