Nifty Futures Trading

[Sunil]

At first u say about ur absence for last days. Have u submitted leave application to Ashisda ? If not please do it immediately.

Here is one chart, I tried for Nifty (long term).

http://www.traderji.com/derivatives/18953-nifty-futures-trading-1016.html#post202028

Regards.

oori baba,
u already had done this chart...

gosh, i think i was just physically sitting on desk through this week - festive season has got into my head early; and cant wait for this 3 day weekend from 15th.
on 19th (parsi new year), it's a bank & school/college holiday, but our market is open...
otherwise, bunking monday, it would have been a 5 day holiday & i could arrange for a visit to calcutta.

It's really amazing that the people, with whom I spend most of my day time, i have not even seen them (& met them)..
aur mano ya na mano, these interactions do lead to a "star parivaar"..
after all, man is a social animal - though he works like a dog, he need to connect/interact with other dogs to see where he stands.
And sitting here in my computer room/work room, all ALONE, I feel the need to interact & share/get some ideas which otherwise due to myopic views (sometimes) get missed - and are SINCERELY/SELFLESSLY pointed out by others -
recent case in point - Czar's & learn2's inv H&S, renu's TL support, satyajit da's intime hourly & trendy charts, etc

A HEARTFELT THANKS & LOVE TO MY VIRTUAL PARIVAAR

 

[uasish]

Plz dont equate me with a Head Master of this Thread.

This is a vibrant thread becoz of ALL of your participation,at Mkt time LIVE with our respective views & Trades.
Trading is stress full some times few lighter vein posts are but natural.

Few humble opinion ,things which happened with me ,may distract us & the Thread :=

1) Any "Intraday" Trader needs greater self motivation to doggedly pursue the initial treacherous path,where he/she is absolutely alone.
The self esteem;subconciously etched in the psyche due to our past life's achievements in academic & proffessional life,gets mauled by Mkt ,(consistently time & again,with few BIG losses inbetween few Wins).
At those moments a trader looks for direction (dumbs who did'nt quit till then)
he/she seeks in the internet,in the book,for any meaning full direction or path to success.
After some time ;like in a Breather phase of a runner,the Trader seeks some type of Recognition amongst his/her fellow traders,as some type of invigorating tonic,for his/her next lap to be runned.
He/She then becomes some what confident to inform the Trades LIVE on Mkt time.
2) In this phase (still vulnerable mentally) the new variety of sophisticated Tipsters jumps in & the Trader really gets some money trading those Calls,the Quest gets Lazy & the Trader becomes a PAST tense.
3) Few Real Gr8 traders ,who are actually success full upto this point in their Trading life,they gets lots of Follower & for this psychophancy,the Gr8 Trader slowly starts beliveing what he/she has acvd. is super human hence he/she has to protect the 'Copy Right' of that ATM machine,he/she feels uncomfortable when outside the inner circle.BAH that machine will stop anytime,Mkt never is static todays concepts/ theory/approach will change over a period of time.

Hence sometimes with my subjective mind's eye ,some times i tend to become rude but my only Humble submission except the point no 1 plz refute & rebuke the point no 2 & 3.

Let us Plz keep this etched in our Mind,YES we can do & we will do it in our own suitable method no prescribed method but our own Individual method.

Another very Imp. point all Grandoise & Pompous associated with a Gr8 Trader is ONLY can be Tested when he/she puts LIVE Trade on Mkt each & everyday & can show Money everyday upto a minimum of 60 to 90 days,then only then he/she is Gr8.

 

[rkkarnani]

Plz dont equate me with a Head Master of this Thread.

This is a vibrant thread becoz of ALL of your participation,at Mkt time LIVE with our respective views & Trades.
Trading is stress full some times few lighter vein posts are but natural.

Few humble opinion ,things which happened with me ,may distract us & the Thread :=

1) Any "Intraday" Trader needs greater self motivation to doggedly pursue the initial treacherous path,where he/she is absolutely alone.
The self esteem;subconciously etched in the psyche due to our past life's achievements in academic & proffessional life,gets mauled by Mkt ,(consistently time & again,with few BIG losses inbetween few Wins).
At those moments a trader looks for direction (dumbs who did'nt quit till then)
he/she seeks in the internet,in the book,for any meaning full direction or path to success.
After some time ;like in a Breather phase of a runner,the Trader seeks some type of Recognition amongst his/her fellow traders,as some type of invigorating tonic,for his/her next lap to be runned.
He/She then becomes some what confident to inform the Trades LIVE on Mkt time.
2) In this phase (still vulnerable mentally) the new variety of sophisticated Tipsters jumps in & the Trader really gets some money trading those Calls,the Quest gets Lazy & the Trader becomes a PAST tense.
3) Few Real Gr8 traders ,who are actually success full upto this point in their Trading life,they gets lots of Follower & for this psychophancy,the Gr8 Trader slowly starts beliveing what he/she has acvd. is super human hence he/she has to protect the 'Copy Right' of that ATM machine,he/she feels uncomfortable when outside the inner circle.BAH that machine will stop anytime,Mkt never is static todays concepts/ theory/approach will change over a period of time.

Hence sometimes with my subjective mind's eye ,some times i tend to become rude but my only Humble submission except the point no 1 plz refute & rebuke the point no 2 & 3.

Let us Plz keep this etched in our Mind,YES we can do & we will do it in our own suitable method no prescribed method but our own Individual method.

Another very Imp. point all Grandoise & Pompous associated with a Gr8 Trader is ONLY can be Tested when he/she puts LIVE Trade on Mkt each & everyday & can show Money everyday upto a minimum of 60 to 90 days,then only then he/she is Gr8.

Ashish da, The first line of this Post by you has been proved wrong by your post itself!!! Yes, u are the Head!!!! and not only in this thread alone!!
BIG THANKS dada!!!
Best regards,
R K Karnani

 

[Sunil]

i just realise one thing that this TL support cannot be easily given up by bulls... a gap down would be the only solution
BREAK OF EITHER SIDE 4660 / 4530 is needed for confirmation of further momentum...
as of now, TL is holding....

in conclusion,
TL break will mean bearishness in short term...
but, as long as 4150 spot is there, intermediate trend is up..

positional longs for short term will need to keep break of TL as SL
posiotional shorts will need to keep today's HOD as stop

now, u decide what u feel will happen first... break of today's HOD or break of TL support, or will range between these levels...

as per mechanical nifty trading, shorts entered at 4560 FUT with SL 4644 (as of now)

now just look at today's intraday FUT chart...

after 4535, it went up till around 4592, then came down till 4545, thus making a higher low BUT THIS HL WILL BE CONFIRMED IF 4592 BREAKS ON UPSIDE...

so tomorrow, in early trade, watch out for these two levels : 4592 & 4535
above 4592, TL will seem safe
below 4535, TL breaks and then supports at sub-4500 (4480/4470) comes into picture

SGX nifty is now suggesting that TL has broken coz of a gap down, and sub-4500 supports will now have to provide oxygen to bulls, otherwise 4400 is there as a good FIB support.

SUPPORTS:
FUT 4592 corresponds with spot 4580 - this is indeed the pivotal point for today, below which bears will have an upperhand.

If 4535 spot does not old, we are looking at 4520-4495-4485-4475-4465
So, good layered supports below 4500. today will be quite tough for intraday swing trading, I would be going with a neutral mindset (neither bullish nor bearish), and consider these sub-4500 levels as supports and consider going long as close to these supports as possible.
I feel a long long at FUT 4490 with SL 4470 would be my preferred intraday swing trade for today.

Coz below these levels, chartically, next support comes at only 4380-4400. So, atleast till EU opening and/or 2 pm, these sub-4500 supports hould hold & expect a ranged trade.

 

[praveen taneja]

SGX nifty at 4505 now with 4490 low congrats everybody I am LOVING it

 

[Sats]

Thanks AshishDa for gr8 post...

Sats.

 

[Sunil]

Vjay,
if u still haven't solved the problem of auto-refresh specially for this thread, and if u insist on Internet Explorer(IE),
then I would suggest "Crazy Browser", which is based & built on IE platform (all tools, preferences, bookmarks, cookies, etc are automatically updated between them)..
there's auto refresh in it with personalised time interval between auto-refresh

 

[learn2trade08]

i am short 4518,stop 4525,tgt 4480...based on this

http://www.traderji.com/derivatives/18953-nifty-futures-trading-1077.html#post204324

thanks

 

[Sunil]

NF is trying to kiss TL...
whether it's kiss goodbye or welcome kiss, watch out the TBQs,

 

[Sunil]

as of now, SPOT bounced off the S1 4505...
pivot is 4580
S2 is 4450