Nifty Futures Trading

[Czar]

True Sir, me just mocking our inability

 

[smarttrader42]

Dear Friends,

Todays closing of Nifty Spot abv 4325 is a positive sign. Whats the view of other members.

Regds,

 

[nagendra_gb]

I think nifty has to come out of this range of 4300 to 4400 .. from last 4 to 5 trading sessions two gap downs and two gap ups gap downs people start accumilating and gap ups they start profit booking

 

[Sunil]

Just to summarise with round figures, this fight between 4300-4400 can be used for intraday swing trades by buying on dips with stop below 4250, and selling on rallies with stop above 4450.

next week is EXpiry week...
and the fight between 4300-4400 continues...

I feel atleast no harm will be done to this intermediate uptrend (HH HL formation with prev HL being spot 4160) next (expiry) week...

though, no one can deny that a big body blow to this intermediate uptrend had been delivered yesterday (& today too) when it closed convincingly below spot 4400 (prev closings were 4431,4393,4368,4416,4284 and today's 4327)

Positionally, I have a net neutral holding on nifty)

it now seems that Bulls have failed miserably today in their classwork...

now their homework is to go to Siddhivinayak Temple tonight walking and pray that Tuesday helps them in some way to save 4300

I think nifty has to come out of this range of 4300 to 4400 .. from last 4 to 5 trading sessions two gap downs and two gap ups gap downs people start accumilating and gap ups they start profit booking

Bulls: Om Ganeshay Namah

Good show & goal keeping by bulls today to save 4300, just like the bears did yesterday to save 4400...!!!
The fight between 4300 & 4400 continues & makes a perfect hunting ground for intraday swing traders - as Nagendra has perfectly put it - buy at 4300 / sell at 4400 (with app. stop) and ride the day.

Tuesday played its part but not fully as I had expected; fell just 40 pts short of 4400 (actually, time got over, otherwise..)
Czar rightly said that the mini uptrend, with HH HL since friday 22/8, ended today at open. But by close, it also broke the mini downtrend with LL LH pattern since yesterday when it crossed spot 4315.

So, what do we have in hand now:

The short term downtrend, with LH LL since 12/8, is still on with stop still at Spot 4435 / Fut 4455.

The intermediate uptrend, with prev HL spot 4160, is also not broken yet, though it has recd. a major blow when it closed below 4400.
Now, it seems that this spot 4250 is trying to become the new HL - but for this, it needs to break spot 4650 first.

Today, we had another mini HH HL whose stop is now spot 4302/4300.

Spot has closed exactly at midpoint of 4450 (needed by bulls) and 4250 (needed by bears) ie closed at 4350. But still, for confirmation, I would also require closing above 4480 / below 4200 to make/break intermediate trend.
As said earlier, my bet's (& money's) on 4200 not breaking or closing below that level.



(on an emotional note in this 62nd Independence month, I am proud to see Indian cos. Infosys & ONGC making bids for Britain's cos.)

 

[Czar]

(on an emotional note in this 62nd Independence month, I am proud to see Indian cos. Infosys & ONGC making bids for Britain's cos.)

buy the buggers out, yeah, We want our kohinoor back please...

where u disappear today both you & chokidaar were missing....

 

[Sunil]

Before Mkt opened,our yesterday night's chart gave us an idea about the probable Support,we even traded on that specific level,twice with Longs,profitably.
After Mkt opened we got our minor Resistance Point & we Shorted at that level twicewith Shorts,profitably.
Now the Mkt Closed & the High also corresponded to our pre-Mkt chart's Resistance Level (as in case of Low with only 10 points wiggling space),
good Astrology.

Czar,

Thanks for the compliment,but the Levels are shared here in this thread,which is not Private.

Asish

A Gentleman's humility & modesty in full show
&
A Trader's finesse in full form...

THANKS A ALOTTTTT, Asish Da, for being there for us & guiding us all through...
Atleast, today permit me to say " Sau sonar ki, ek lohar ki", though in our trading thread, you are the sonar so, "ek sonar ki, sau lohar ki"

 

[Sunil]

(on an emotional note in this 62nd Independence month, I am proud to see Indian cos. Infosys & ONGC making bids for Britain's cos.)

buy the buggers out, yeah, We want our kohinoor back please...

where u disappear today both you & chokidaar were missing....

was there till ard 10:30... after seeing asish da's post, I did something which I had never done before:
I entered long at 4300 (on seeing more TBQs in both mini & big - just like yesterday, when at open at 4400 there were more TSQs), so I felt today would be a short-covering day + a little "tuesday's" bias. Asish da's post also gave me moral support. I also squared off my old 4200 Put; now only left with 4300 Call as positional trade.
I booked half at 4320 Fut (corresponded with spot 4315 chokidaar), and as I already knew i had to leave early today, I left the balance lots on "auto pilot" - yeah, with stop order at below 4285 FUT (corresponding with spot's 4280 support). I came back around 3pm and one of your posts hinted at some resistance at 4340 - i didn't have time to think much, and I just booked out remaining at Fut 4350, corresponding with your spot's 4340.
So, thanks to you & Asish da.
Unknowingly, coz of u two, I was able to do some trading today, and that too in profit!!! Luckily, 4300 Fut was staring right in face at open for such trade, just like yesterday's 4400.

 

[Czar]

God help me, Now Intraday on Auto-pilot, god I cant bear it anymore, please stop earth I want to get off...

 

[Sunil]

God help me, Now Intraday on Auto-pilot, god I cant bear it anymore, please stop earth I want to get off...

lol


yaar.. itna exaggerate nahin kar...
it was a swing trade with less than normal qty - which i keep for intraday scalping trades.. otherwise, how could i keep a 15+ pt stop

 

[mitasatyajit]

was there till ard 10:30... after seeing asish da's post, I did something which I had never done before:
I entered long at 4300 (on seeing more TBQs in both mini & big - just like yesterday, when at open at 4400 there were more TSQs), so I felt today would be a short-covering day + a little "tuesday's" bias. Asish da's post also gave me moral support. I also squared off my old 4200 Put; now only left with 4300 Call as positional trade.
I booked half at 4320 Fut (corresponded with spot 4315 chokidaar), and as I already knew i had to leave early today, I left the balance lots on "auto pilot" - yeah, with stop order at below 4285 FUT (corresponding with spot's 4280 support). I came back around 3pm and one of your posts hinted at some resistance at 4340 - i didn't have time to think much, and I just booked out remaining at Fut 4350, corresponding with your spot's 4340.
So, thanks to you & Asish da.
Unknowingly, coz of u two, I was able to do some trading today, and that too in profit!!! Luckily, 4300 Fut was staring right in face at open for such trade, just like yesterday's 4400.

So the profit should go to Ashisda, Czar and slightly to Sunil. Exchange has been properly informed.