Nifty Futures Trading

[Sunil]

ideally cover shorts when stochs & rsi clos down (ie nears 20) or if, on the left side of the intraday chart, there appears a good support...3990FUT

 

[uasish]

Covered @ 4007.00

 

[uasish]

May enter below 4000.00

 

[Sunil]

either at 3993 or trailing now 4010

 

[lalpar]

entered LONG at 4005 SL 3990

 

[lalpar]

covered at 4018..

 

[Sunil]

here's the reason why i again shorted at 50

http://niftyintraday.googlepages.com/nifty50

i had given this reason last month too...

slow stoch + RSI + round figure levels of FUT

lethal combination to enter a position...

read about how & when to use the Stoch & when to ignore them, at your free time:
http://www.tradingacademy.com/lessons/lessons20080208.shtm

and confirm with nifty chart...
u'll be surprised by the result

once in a while, there happens an exception to above rule...
like in last week, some members kept saying RSI is high, over-bought, etc... but it just kept going up, and asish da has perfectly explained the reason (sharp trend reversals, break out of multi-days' range, etc)...

but, as i said, it happens once in a while,, and indicates change in very short term trend

ideally cover shorts when stochs & rsi clos down (ie nears 20) or if, on the left side of the intraday chart, there appears a good support...

here's the recent 5 day chart of nifty spot + slow stoch...
when u know that trend is down, and for intraday u r looking to short (logically at a rally), then stochs have been quite handy to initiate shorts...

for covering, as mentioned above

one may paper-trade for some days, to confirm & build confidence

 

[uasish]

Shorted @ 4026.35 Stop = 4035.05

 

[lalpar]

Shorted at 4026 SL 4050

 

[lalpar]

Shorted @ 4026.35 Stop = 4035.05

dada I had placed oder at 4026