Nifty Futures Trading

[Sunil]

so now we have a double top in FUT charts Mon HOD 4459 & wed HOD 4455,
whose neck was tues LOD 4331 broke today...

the short term since 12/8 continues with LH LL formation, now with stop as wed HOD ie spot 4435 & Fut 4455

 

[Sunil]

spot now has a support of 4275-80 where TL & 50DMA lie...

 

[rishig38]

spot now has a support of 4275-80 where TL & 50DMA lie...

Broken...did I hear free fall

 

[lalpar]

I sqaured of 1 lot mini nifty and all calls for thi month..Loss of over 40k...

 

[Sunil]

viewing the charts of 29/7 to 1/8,
below 4275, next spot support comes at 4240-50 range..
and then there's an unfilled gap of 30/7 gap up on 5 min charts at the close of 29/7 ie spot 4190 / fut 4199

Thus, 4200 SPOT is THE final hope for intermediate bull run (with prev HL at 4160) and also ard the 50% ret of 3800-4650

I have bought 4200 PUT as insurance to my balance unbooked 4300 Call (both now purchased at spot 4315)

 

[Sunil]

Forgot to mention about the inflation data coming out today after EOD.

The last hour trade may be tentative with downside bias.

never thought this morning that the whole day would be in downtrend with LH LL,
missed a clear swing short opportunity when yesterday's LOD broke...so just had to rely only on scalping trades

 

[lalpar]

HI Sunil,,

This last week thought few lessons to me...
1)Never rely on any of the src in market..Trade what you see...I was in rght direction i.e in short position but something changed my decision....I would never bring that something else going fwd>>I will trade what I see...
2)NEVER NEVER NEVER BReak the RULES...Have descipline and Strict STOP LOSS!!!!!
point no 1 made me to fall in this trap!!!!


Loss of 50k:Will be recovering it slowly....But yes I will keep walking!!!

 

[Sunil]

I sqaured of 1 lot mini nifty and all calls for thi month..Loss of over 40k...

feel very sorry for you, lalith, but u had taken so many call options at a variety of strike prices (i guess purchased at higher levels)...
atleast that 1 lot of mini future u could have in short position as insurance...

for positional trades, i usually go long after many days' fall at strong chartical RSR levels, and vice versa for shorts...

u can check out my prev posts... i had suggested the strong support of 3750 as stop for longs at 3800.
recently, i had doubted the bulls' ability to cross 4700 and purchased puts at 4620... u have to play these levels like a tennis game...
that's why i had booked majority of calls yesterday at around 4415, and i had mentioned that i will add more only when spot 4447 gets taken off (which did not happen today).

infact, if one is bearish for short term (for eg) one should not add on shorts when prev day LOD breaks, but when there are intraday rallies. You should have a clear chartical stop in mind.

One last thing, my friend - never take up so many positions on a single side that u become so biased that u cant even imagine the reverse of your position or dont have much liquidity left to hedge your views/position.
Keep studying the posts by Saint sir (i have learnt how to add on positions from his posts) and take inspiration from Satyajit Da's discipline & his clear "trendy" charts.

I think this is the second time this has happened with you within a month or so. Being your well-wisher, I would just SCOLD you for not following your OWN rules, which u had posted here sometime back (mainly of not following your stop)

 

[Sunil]

lalith, we both were actually thinking of each other while composing our respective posts...!!!

dil mile huye hain...
aur mere dil se tere liye yehi dua nikalti hain ke tera loss agle mahine ke andhar hi cover ho jayega + with profit too.

ALL THE BEST...
as you say, keep walking + i would add, keep studying charts ( i hope u follow & do trading only in nifty, though)

 

[lalpar]

feel very sorry for you, lalith, but u had taken so many call options at a variety of strike prices (i guess purchased at higher levels)...
atleast that 1 lot of mini future u could have in short position as insurance...

for positional trades, i usually go long after many days' fall at strong chartical RSR levels, and vice versa for shorts...

u can check out my prev posts... i had suggested the strong support of 3750 as stop for longs at 3800.
recently, i had doubted the bulls' ability to cross 4700 and purchased puts at 4620... u have to play these levels like a tennis game...
that's why i had booked majority of calls yesterday at around 4415, and i had mentioned that i will add more only when spot 4447 gets taken off (which did not happen today).

infact, if one is bearish for short term (for eg) one should not add on shorts when prev day LOD breaks, but when there are intraday rallies. You should have a clear chartical stop in mind.

One last thing, my friend - never take up so many positions on a single side that u become so biased that u cant even imagine the reverse of your position or dont have much liquidity left to hedge your views/position.
Keep studying the posts by Saint sir (i have learnt how to add on positions from his posts) and take inspiration from Satyajit Da's discipline & his clear "trendy" charts.

I think this is the second time this has happened with you within a month or so. Being your well-wisher, I would just SCOLD you for not following your OWN rules, which u had posted here sometime back (mainly of not following your stop)

YES SUNIL,....AS I said I was so much engrossed in the opinion of somebody whom I admire ,respect and love the most..I dont say its his mistake its my mistake of buying CALLS and CALLS without hedging..

This was the 1st time that happned to me..LAst time it was all paper trade..Real Trading is far difficlult than that..AS said I will Keep Walking...

going fwd I will post every single trade of mine with SL...

AS I said I am cursing myselg so much that I cannot explain...After going through saint sir docs still i did not follow discipline..I wont quit but I WILL make sure I beocome more disciplioned