Nifty Futures Trading

[uasish]

3768 is providing support as expected. Lets see. lots of time left.

See the Rise-es can not cross 50 % to 65% of its earlier Falls.Mkt being always in Waves will always traverse in opposite direction for some time,opening a 120 min chart now what i see is strong Trend downwards,in these situation it is better to play with 'Risk-Tolerence Level',a bigger STOP with Less Qty to start with then when trade if is in favour ,then 'Scaling-In' gradually with more qty,as Saint does,so that the major part of the move can be taken without much pressure on 'Risk-Tolerence' .

 

[new2sm]

Golden words. I follow this technique only dada. though not always since u never know when mkt changes its trend, but as sunil also noted, last 2 days have been good for us all in general.

 

[Sunil]

See the Rise-es can not cross 50 % to 65% of its earlier Falls.Mkt being always in Waves will always traverse in opposite direction for some time,opening a 120 min chart now what i see is strong Trend downwards,in these situation it is better to play with 'Risk-Tolerence Level',a bigger STOP with Less Qty to start with then when trade if is in favour ,then 'Scaling-In' gradually with more qty,as Saint does,so that the major part of the move can be taken without much pressure on 'Risk-Tolerence' .

Sir, in lay words, fresh shorts only at higher levels (corresponding near previous LH)??

 

[uasish]

Ahh ! now i get a signal of change in trend,but these are not lasting much in 'Time - Price' scale.

 

[uasish]

Sir, in lay words, fresh shorts only at higher levels (corresponding near previous LH)??

Sunil,

If your perspective is HH HL type,as Saint taught,then we Short at breaking of Pivot Low,or after a confirmed Pivotal High is made.
I was refering to strategy of how to trade these phase,not any change of Approach towards how we visualize Price movement.

Asish

 

[Sunil]

a fall from SPOT 4050 to 3800 (+200 pts)...

buying a call here at 3800 spot with SL below 3775 spot...



(against the trend, but i attribute much of this fall to US financial conditions)..
(case in point, good results of axis bank & infosys, yet they fall)

 

[Sunil]

confidence to my call option (long position) if both spot & fut manage to close above 3800

 

[uasish]

3810 is the Level as per my chart.

 

[Sunil]

see, it seems we are just following DOW as of now....
and DOW is near its very important support level of 11000 (even yesterday, from 10800 it jumped to close at 10960)...

it's safe to book your profits in shorts, as nifty always takes support from new round figure nos. - now we are near 3800, with 3775 as a known chartical support....

see what happens at EOD, and take your call....

nagendra, usually these round figure spot supports are broken only by a gap-down opening...
europe is -0.7% now, but DOW is flat in green....

i have purchased a Call option at 3800 spot with SL below 3775... i am taking a risk of gap-down opening (but with last & final strong support at 3750)... let's see what tomorrow turns out....

 

[new2sm]

what a short covering. spoiled the game.