Nifty Futures Trading

[Sunil]

Hi Sunil ..Thanks for the levels..can you please write in simple words the trade entry/ Tgts/ SLs for short trades using ur Pivot Levels..for immature traders like me to benefit thx a ton

Rakesh,
actually no one can give sure shot calls before the markets open. These pivot levels can just guide you where supports/resistances will come, and what is the next level we have to look up to.

one more thing... there will be many views/methods coming up... u have to decide what u want... assuming u r here for mostly intraday trading in nifty...

this is what i usually do for intraday trading:

1. First I observe the intraday charts, and marking out levels where it is finding support/resistance,

2. then try to guage the mood of market after initial 10-20 mts(subjective)

3. if it's on an uptrend, for eg, I look to buy near lower levels/supports (as per charts) and at lower RSI, and book part profits at the next resistance level. for rest, I keep a trailing stop. If it's on a downtrend, then I look to sell at higher resistance levels (with higher RSI).

your entry level is important in intraday trades, as then u can keep the next chartical level as your Sl, and this will help you minimise your risk.

pivotical levels help you to identify & confirm the support/resistance levels for step 1...
and normally, above the central pivot, I look out to buy on dips, and below that PIVOT, I look out to sell on rallies...

Also, note one thing, after an uptrend is confirmed, for eg, usually, the previous resistances behave like supports, and vice versa, in downtrend.

I also rely on chartical resistance breakouts, support breakdowns, formations like H&S, etc to enter a trade.

good luck...

(PS: i am an ordinary trader with no access to chartical softwares, except the one which comes with this broker-provided trader terminal program. I can only bring Pivots & other key levels (and sometimes RSI) into picture to help me in trade. I am not bothered what the "SMART MONEY" has up in his sleeves - whether he's long or short, I am here to collect my nifty points and get out with no emotions attached... Market outlook comes into picture when u want to take a positional trade)

 

[Smart_trade]

Satyajit,

At least you know me & my family closely for last few yrs & know that this is my only source of income.Hence it is everyday habit & obviously immense support from family side,no interference between 9.45 to 3.30.It is not 'majja' it is stark reality,you atleast know that this week how much i will have to fork out towards Corporation Tax for my house.

Asish

Is Kolkata Municipal Corporation levying 'ExcessiveTrading Profits Tax "on successful traders ? This was on lighter side.

But I totally agree that a full attention and focus is required between 9=30 to 3=30 in trading.Even taking phonecalls sometimes diverts the attention and at times proves very expensive by way of missing a trade level or stoploss level. In daytrading one has to be on the toes all the time.

Regards and Best Wishes ,Trade Well

 

[columbus]

sir we re-request this is nifty futures thread only... best option to start new thread...

Czar,

I am nobody to complain against anybody, What nifty futures are doing in EQUITIES category ,why not in DERIVATIVES?.

 

[Smart_trade]

Anybody tracking/trading on Thomas DeMark's Sequential system ? This system is catching Nifty futures tops and bottoms with remarkable accuracy. On daily chart,it cought Jan 2008 botton a day earlier,July 2008 bottom exactly on the day of the bottom.Also on hourly time frame,it cought NF top on 24th July at 11=00 bar and gave a sell signal at 4458 also cought 29 July 3.00 pm hrly bottom and gave buy signal at 4202.

If others are following ,we can start a discussion thread on this system.

 

[uasish]

Czar,

I am nobody to complain against anybody, What nifty futures are doing in EQUITIES category ,why not in DERIVATIVES?.

Your advise is taken into a/c now.

 

[mahesh2007]

Lot of new members ask about pivots.
Though pivot calculators are available,still it is better to have understanding of pivot formulae.
as so many traders follow pivots, hence market reacts at these levels.
unlike lagging technical indiacators like moving average crossover etc, they are predictive in nature.
we take previous day's high(H),low(L) & close(C) values to calculate next days potential turning points.
pivot formulae are represented in diff. forms on various websites so we shall consider all.


P(Pivot)=(H+L+C)/3

Range=H-L

r1(Resistance1)=2P-L

r2=P+RANGE OR P+(r1-s1)

r3=(r1+Range) OR H+2(P-L)

s1=2P-H

s2=P-Range OR P-(r1-s1)

s3=s1-Range or L+2(P-H)

cheers

mahesh

 

[Sunil]

Your advise is taken into a/c now.

kya da,

i had made this suggestion of changing the directory/folder when the name of this thread was changed....
u did not pay heed to my advice then, which I had given for the benefit of new members to enable them to locate "nifty futures" fast...


I had even suggested of a different category heading altogether for NIFTY under "THE MARKETS" where there are four categories: "Equities", "Commodities", "Forex" & "Derivatives"...
I had suggested a different category titiled "NIFTY" wherein you can have sub-categories like "market outlook", "Positional Trading", "intraday trading" "Calls", "Nifty options" etc.. (whichever is felt appropriate)..
and in this category/sub-categories, I had requested to shift all the threads regarding Nifty, like "Mechanical Trading" by Vinod sir, "Pivot points" by Savant sir, this very thread, etc

This would really benefit existing & new members, if they want to search/learn about Nifty Trading, they can find all about it in one place, and spend less time searching for this.

After all, N I F T Y IS THE KINNNG, (maximum turnover everyday comes from Nifty futures & options)
(so it may not be wrong if it is said that majority of members are interested or pay more attention to Nifty trading)

I know there's always the "search" link, but if you have all threads abt nifty neatly categorised, you will really benefit new & existing members and save their time of searching what they want. (i am just refering to nifty as of now). If you see something in front of your eyes readily available, then why would one need to think of what exactly to search abt NIFTY, as one may not be sure of what things are available.


I, as a lover of Nifty & a well-wisher of traderji . com, humbly & sincerely request you to take some steps regarding this, and I am sure many members will agree with this.

 

[citrus]

Lot of new members ask about pivots.
Though pivot calculators are available,still it is better to have understanding of pivot formulae.

It will be better if the pivot calculators are provided on the traderji website itself.
Regards.

 

[Czar]

please put all your suggestions HERE so all mods can go thru them & them wont dissapear in these post.

 

[mahesh2007]

It will be better if the pivot calculators are provided on the traderji website itself.
Regards.

The following site has pivot calculator.
http://www.traderknowledge.com/
download the same.

cheers
mahesh