Nifty Futures Trading

[Sunil]

satyajit da, you were really working so hard last night to post such informative charts for all of us....!!!

GOD BLESS YOU, SIR

 

[learn2trade08]

Dear czar,
i have gone through saint's thread and a good fan of saint...but i am starving for more...
thanks

Learn 2: Have you gone through the thread Teach a man to fish by our honourable Saint... many have learnt lot from that thread, if you wish to know you may go through to understand better what goes on here...

 

[learn2trade08]

Dear satyajit,
I never had the oppurtunity to thank you,but i know for sure that i downloaded the ppt probably the very next minute you uploaded it and had gone through it thoroughly....i really look upto "KISS" and related strategies...i dont think i can thank You/ajax/winston/saint enough....
still curious for more strategies...
thanks again

It is from my end.

http://www.traderji.com/general-trading-investing-chat/21384-sharing-trading-technique.html

With love

 

[praveen taneja]

thnx satyajit sir for giving relief to all of us who are in long n fearing loosing money god bless u

 

[Sunil]

today will be a trend decider day... whether this was just a healthy correction for the overall bull rally to continue, or whether today's pullback will just be an opportunity to short at higher levels assuming the bear rally will resume...

Expiry days always seem to create a mirage... after yesterday's negative news for the overall economy, I would rather believe that today & tomorrow may be a mirage, and satyajit da's dragon will return friday onwards.

Anyway, positional trading is not advised in such uncertain times. SPOT 4165 is the 50% retracement level of therally from 3790 to 4540. Also, 4115 is the 20DMA. So, there is chartical & technical support at these levels.
On higher side, 4315 - 4350 - 4380 are key resistance levels.

For today, let's see, after gap up, if we can sustain & close above 4240/4250 level - this is also the 38.2% retracement level.

 

[uasish]

The Lakshman Rekha in 10 mins chart is showing @ 4177.20.(for Renu).

 

[Sunil]

Key Spot levels for today:

4215 - Bullish Pivot

4230

4255 -

4270 - R1 for today, level from which SPOt just droppped down yesterday.. so, this should be achieved first & reaction over here would be the key

4315 - My R2 for day... full stop in absence of more positive news

4330 - actual R2. enough to cover yesterday's gap down

 

[tinchu76]

there are two common strategies which all follow:

1. Observe charts to understand & trade with levels
2. Realise the trend; if in uptrend, look to buy at/near lower support levels ; if in downtrend, look to sell at/near higher resistance levels...

But, never ever try to catch a missed bus by entering after a steep rise (by entering long) or after a steep fall (by entering shorts).. these are traps. Be patient and wait for step 2.

Also, decide your timeframe before entering a trade - this will help you identify your SL and profit-booking level (part or full, depends personally)

Sunil pls elaborate on "Also, decide your timeframe before entering a trade - this will help you identify your SL and profit-booking level" to u/stand better.

 

[Sunil]

Sunil pls elaborate on "Also, decide your timeframe before entering a trade - this will help you identify your SL and profit-booking level" to u/stand better.

if you r entering for intraday trades, then 1mt / 5 mt charts over last 3/5 days would be more important.
For positional trades, hourly / EOD charts should be given priority.

 

[Czar]

closed long 4259.15