Nifty Futures Trading

[debdeeps]

Short triggered below day's low. Hope market will follow this direction now.

 

[debdeeps]

Also it has broken out of the symmetric triangle in which it was moving earlier.

 

[Sunil]

when there's uptrend, then its always better to go long at lower levels (near HLs) or referring the RSI when it's around 20-30..

then for days (like yesterday & today) where downtrend is visible, look to go short at every higher levels or when RSI is around 70-80..

my personal view... (though we'll have to keep a very strict SL while entering)

 

[Sunil]

for instance, in today's fut..
LHs are 4383, 4373, 4363, (a perfect 10 pt step)..

so now, i'll try to go short at 4353 (if RSI also supports -as mentioned)with SL above 4363

 

[Sunil]

for instance, in today's fut..
LHs are 4383, 4373, 4363, (a perfect 10 pt step)..

so now, i'll try to go short at 4353 (if RSI also supports -as mentioned)with SL above 4363

also, check out the RSI at all these 3 levels
in 1mt SPOT chart - RSI parameter=14

 

[Sunil]

word of caution - RSI is not always reliable..

but yes, majority of times it has given me result...
(just keep in mind the prevalent trend going on, and use it to go long or short as case may be)

 

[Sunil]

but i use it for scalping trades most of the times or on such rangebound days...

 

[Sunil]

for instance, in today's fut..
LHs are 4383, 4373, 4363, (a perfect 10 pt step)..

so now, i'll try to go short at 4353 (if RSI also supports -as mentioned)with SL above 4363

went short at 4350...
covered part at 4338...

 

[Sunil]

for rest, Stop Profit at 4347
or whenever RSI goes near/below 30

 

[Sunil]

for rest, Stop Profit at 4347
or whenever RSI goes near/below 30

have to keep 4315 SPOT in mind too