Nifty Futures Trading

[knarendra]

Now,Nifty-3030 (+0.5).
As per chart pattern Nifty - BUY.
As per my calculation Nifty- SELL.
What happened?

 

[Sunil]

sunil bhai...seeing any up side from here or are we goin back to 2700??

i dont indulge in positional trades often
but as mentioned yest, for me, immediate "good" resistance is just 100 points away at around 3150-70...

2700 is beyond my trading mind's radar as of now...
for me, next support level band 2973-2955 and after that MAIN SUPPORT IN FORM OF PIVOT LOW - 2813 SPOT

 

[Sunil]

Now,Nifty-3030 (+0.5).
As per chart pattern Nifty - BUY.
As per my calculation Nifty- SELL.
What happened?

correction:
charts NEVER said to buy today...
BUY call was generated nearly a week back from 2800 zone...

 

[pkamalesh]

correction:
charts NEVER said to buy today...
BUY call was generated nearly a week back from 2800 zone...

yup agree..after it breached the reistance arnd 2835 i entered long..

 

[Sunil]

finally, a PIVOT HIGH in 5min chart

 

[pkamalesh]

bhai the pivot will be breached on 3011 rt??? on the down side

 

[Sunil]

bhai the pivot will be breached on 3011 rt??? on the down side

it's a Pivot HIGH kammy...
it will be breaches at 3033+ on UPSIDE

 

[arnav_rulz]

BELIEVE IN YOUR TRADE & FOREMOST YOUR ENTRY LEVEL at time of entry...
THIS BELIEF WILL COME ONLY WHEN YOU ARE AWARE OF YOUR STOP, AND THAT STOP LEVEL IS VERY CLOSE..

I hate it when some of my friends (not into share trading) tell me I gamble every day (like my entry depends on a toss of a coin - heads for long, and tails for short)...
I had to demonstrate to them there's a hell lot of difference between gambling & speculating (with calculated risk:reward ratio)...

For intraday & scalping trades, for me, knowing that my stop is nearby is not enough...
i have to know how will that level react - as support or as resistance, then i choose & verify my nearby stop, and then i enter...

all this can be done only if u focus your attention & energies towards ONE SCRIP ONLY...

this is my personal mantra for my daily intraday swing & scalping trades

Sir pretty much what i have to explain to my friends ... But im being just a student everyone still goes like "dude you are too young... you dont know how many manipulations go around in the market.. you are just earning by luck for now .. this and that ... stock market is never a source of income ... its just for investment.."

Now toh i dont even bother explaining them.... I just say im earning while 90% of the world lost in "INVESTING" So Who would u rather be

 

[rishig38]

it will be breaches at 3033+ on UPSIDE

I am confused Sunil...can you explain what you mean?

 

[Sunil]

this is an excel file for those newcomers/persons who have no idea how to read charts and use technicals...
something like a mechanical trading system by Vinod Nadoda ji.

I had made this when I was a newcomer myself, and the ONLY trading-tool & friend i knew was CLASSICAL PIVOTS (floor-trading pivots)...
(new2sm is my proof to this, right since my initial trading days & TJ days)

I happen to like it maybe because it involved simple mathematics, and it was my fav subject since 15 years of my life (half of my life)...

here's the link

Go thru it, if you want...
I'll add my views on this over weekend