Nifty Futures Trading

[Sunil]

NIFTY SPOT 5MIN CHART:

Over last two days of trading, a trading band has been formed 2860 & 3010. Immediate targets on BO of side = SPOT 3050/3070 (if breaks up) and 2780/2750 (if breaks up)

If we have a gap up opening, then SPOT 2947 / FUT 2956 becomes key support level in form of prev. HL, in the HH HL setup attempt made intraday on Friday

 

[Sunil]

How can we expect to get Kolkattans To-Day when 'Sourav' is playing his Last Test.They are ALL GLUED to TV sets.
(I also took this excuse to stay home.)

Sourav Ganguly Out @ 85.00

now all Kolkattan traders will be free...

now big movement for sure...

BTW, the above SPOT chart does resemble our Indian sub-continent....
and nifty is now at Bay Of Bengal....
So, all bulls are now dependent on our Kolkattan trader-brothers, where they take the nifty from hereon... Kashmir, Kanyakumari or Kohima

 

[praveen taneja]

If u leave on them they will surely push nifty to Sri lanka hahahaa

 

[milind]

Again TBQ/TSQ action is deceiving (or is it?) - spike to 3070 and at the same time noticeable fall in TBQ below TSQ

 

[Sunil]

good moves by nifty so far...
broke on upside of the band (as indicated in prev chart)
closed the gap by testing (and tasting) the upper band/range line

now, making HH HL moves
follow 5min charts (and Prev HL) as trailing stops for longs

 

[new2sm]

hanging man. bearish is the expectation. Lets see. Hopeful for longs till 3050 is not broken.

 

[Sunil]

Over last two days of trading, a trading band has been formed 2860 & 3010. Immediate targets on BO of side = SPOT 3050/3070 (if breaks up) and 2780/2750 (if breaks up)

If we have a gap up opening, then SPOT 2947 / FUT 2956 becomes key support level in form of prev. HL, in the HH HL setup attempt made intraday on Friday

booked out most of my longs near the 3070 level...
now for some 1min/5min RSI cooling and retest of prev. HLs

 

[Sunil]

hanging man. bearish is the expectation. Lets see. Hopeful for longs till 3050 is not broken.

Right....
that's the key HL support now & ideally should be the trailing stop for longs

 

[Sunil]

Right....
that's the key HL support now & ideally should be the trailing stop for longs

just held on to 3050

 

[praveen taneja]

just held on to 3050

mkt is finding tough to break ur 3050-3070 spot level