Nifty Futures Trading
- Thread starter uasish
- Start date
- Tags nifty futures nifty intraday trading
- Status
KAHANI "INSIDE-DAY FORMATION" (NEARLY) KI...
SPOT LEVELS FOR TUESDAY'S TRADING
Due to a tight range-bound trade, the key levels remain the same...
S2 = 4260/4240 (gap band, good level to re-enter longs unless VERY NEGATIVE NEWS FROM GLOBAL MKTS / RBI)
S1 = 4290/4285 (LOD, bears will intensify attack below this level)
PIVOT = 4315 (how can this not be there "4315" - the bullish pivot for the day; bulls will have an upperhand as long as SPOT sustains above this level)
R1 = 4350/55 (HOD, upper band of today's range bound trade, break will give support to BULLS)
R2 = 4385 (good news from RBI can break this; if closes above psychological 4400, then short term trend will turn UP)
DowJones, which seemed ranged on friday, may make a decisive move today. This move may move Nifty till R1 or S1 level; thereafter, only after RBI's policy news will confirm/set the trend.
But since expiry is on Thursday, I reckon that 4200 - 4500 is a probable band for expiry, once RBI's news is out.
Also keep in mind, NIFTY had ended on a positive note (surprisingly, may be coz of over-sold) last two times when RBI hiked rates. This time, a small hike (as a sign of token action) is factored/expected.
Hence, a small hike or no hike will prove to be bullish... but let's not pre-empt the move, and let the nifty levels decide.
One thing also came out from such continous range-bound trades.. always better to short at higher levels (with high RSI) and buy at lower levels (with lower RSI); with strict SLs and profit-targets.
I wont be joining you guys tomorrow and for next few days...
I had always liked the idea of Dow Futures being traded 24/5 (if not 24/7), and had always wanted such facility for my NIFTY FUT.
And the answer lies in SGX NIFTY. Although, not exactly for 24 hours, but atleast from early morning (with other asian markets's opening) and till night (till US opens plus few hours)... atleast some position can be taken (first mover advantage)
For this, I am going to Singapore tomorrow to make this set up work for me...
Have a good profitable week, my friends & fellow-members...!!!
I had always liked the idea of Dow Futures being traded 24/5 (if not 24/7), and had always wanted such facility for my NIFTY FUT.
And the answer lies in SGX NIFTY. Although, not exactly for 24 hours, but atleast from early morning (with other asian markets's opening) and till night (till US opens plus few hours)... atleast some position can be taken (first mover advantage)
For this, I am going to Singapore tomorrow to make this set up work for me...
Have a good profitable week, my friends & fellow-members...!!!
I wont be joining you guys tomorrow and for next few days...
I had always liked the idea of Dow Futures being traded 24/5 (if not 24/7), and had always wanted such facility for my NIFTY FUT.
And the answer lies in SGX NIFTY. Although, not exactly for 24 hours, but atleast from early morning (with other asian markets's opening) and till night (till US opens plus few hours)... atleast some position can be taken (first mover advantage)
For this, I am going to Singapore tomorrow to make this set up work for me...
Have a good profitable week, my friends & fellow-members...!!!
I had always liked the idea of Dow Futures being traded 24/5 (if not 24/7), and had always wanted such facility for my NIFTY FUT.
And the answer lies in SGX NIFTY. Although, not exactly for 24 hours, but atleast from early morning (with other asian markets's opening) and till night (till US opens plus few hours)... atleast some position can be taken (first mover advantage)
For this, I am going to Singapore tomorrow to make this set up work for me...
Have a good profitable week, my friends & fellow-members...!!!
Happy Trading and Enjoy !!!
Gap support ends at 4240 SPOT (4250 FUT),
below this level, there's a srong support at 4215 SPOT (4225 FUT);
Very bad cues from global mkts. may target the gap support.
After that, till RBI nos. are out, I am expecting a tussle in this range of 4240-4260 SPOT.
If one is expecting a not-that-negative news from RBI, one may attempt a long at 4240 SPOT with SL below 4215 SPOT (intermediate trend is still up, healthy correction from 4540 to 4240). I will look to buy 4200 Call, with same SL.
BUT IF RBI HIKES RATES ABOVE EXPECTATIONS, THEN FORGET LONGS... (though chances of RBI taking such an extreme step, with ROC in inflation slowing & industrial production/growth also slowing, is quite less, as of now). A CLOSE BELOW 4215 SPOT WOULD BE VERY NEGATIVE.
below this level, there's a srong support at 4215 SPOT (4225 FUT);
Very bad cues from global mkts. may target the gap support.
After that, till RBI nos. are out, I am expecting a tussle in this range of 4240-4260 SPOT.
If one is expecting a not-that-negative news from RBI, one may attempt a long at 4240 SPOT with SL below 4215 SPOT (intermediate trend is still up, healthy correction from 4540 to 4240). I will look to buy 4200 Call, with same SL.
BUT IF RBI HIKES RATES ABOVE EXPECTATIONS, THEN FORGET LONGS... (though chances of RBI taking such an extreme step, with ROC in inflation slowing & industrial production/growth also slowing, is quite less, as of now). A CLOSE BELOW 4215 SPOT WOULD BE VERY NEGATIVE.
- Status
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
|
Trading Nifty Futures for intraday | Futures | 1 | |
| Y | Trading nifty futures | Members Discussion Forums | 0 | |
|
Re: Day trading Nifty & Stock Futures | General Trading & Investing Chat | 1 | |
| A | Trading Nifty futures with Alchemist | Trading Diary | 2 | |
|
Day Trading Nifty Futures only | Derivatives | 107 |
Similar threads
-
-
-
Re: Day trading Nifty & Stock Futures
- Started by Smart_trade
- Replies: 1
-
-