Nifty Intraday Pivot Points
- Thread starter SavantGarde
- Start date
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Re: BankNifty Intraday Pivot Points
Hi Penchant,
1. BNF is currently at 6932 and you already + 160 on the short. And you are long on BNF at 7320. That is -388. As it is you have hedged your losses to - 228 only. Hold the long close to your chest as Savant's target is far off.
2. Just keep a watch and cover the short whenever there is a hint of bounce back keeping an eye on 5/6 SMA and 9,2 BB graph. Book the profit o the short. Go short again if there is a further weakness in BNF ( Personally I doubt there will be much weakness tommorow ) .
3.The basic principle is to keep on booking profit whenever there is an opportunity to minimize the losses and do not wait for the trend reversal. It is a different matter that you may turn the trades into a profit making one.
4. Do nothing with the long as there is a long way to go.
Wishes,
Lancer.
ANIL;
I shorted one aug. lot @ 7090.
belatedly remembered lancer saying calender spread works in such cases.
wish , i had done it much earlier.
I shorted one aug. lot @ 7090.
belatedly remembered lancer saying calender spread works in such cases.
wish , i had done it much earlier.
1. BNF is currently at 6932 and you already + 160 on the short. And you are long on BNF at 7320. That is -388. As it is you have hedged your losses to - 228 only. Hold the long close to your chest as Savant's target is far off.
2. Just keep a watch and cover the short whenever there is a hint of bounce back keeping an eye on 5/6 SMA and 9,2 BB graph. Book the profit o the short. Go short again if there is a further weakness in BNF ( Personally I doubt there will be much weakness tommorow ) .
3.The basic principle is to keep on booking profit whenever there is an opportunity to minimize the losses and do not wait for the trend reversal. It is a different matter that you may turn the trades into a profit making one.
4. Do nothing with the long as there is a long way to go.
Wishes,
Lancer.
Re: BankNifty Intraday Pivot Points
A deep correction on or before Budget was something expected by Savant. He has always maintained that it would be of the level of 4180 to negate the quantum jump on the mandate after elections. And Nifty has closed at 4165.
Infact the budget was flat and was not placed by any finanacial technocrat. It was a political one and lacked clarity.
A deep correction on or before Budget was something expected by Savant. He has always maintained that it would be of the level of 4180 to negate the quantum jump on the mandate after elections. And Nifty has closed at 4165.
Infact the budget was flat and was not placed by any finanacial technocrat. It was a political one and lacked clarity.
Re: BankNifty Intraday Pivot Points
Hi Guys,
Hmmmm.....Not A Good Day......For Those Already Long.
NF Has Already Closed Below 4181.00, If On Tuesday & Wednesday NF Stays Below 4181.00, Then NF Can Slide Down By 380-440 Points....Next Couple Of Session Is Important For Those Not Having Enough Margin Of Safety.
For Those Holding BNF, Stay Long & As Per Lancer's Calendar Spread If One Is Short In August, Then Advisable To Follow What Lancer Has Stated In His Post....
Lancer<<<<< Keep A Closer Eye On IFCI & CHAMBLFERT....
Anil<<<<< Tomorrow On Rise Exit One BNF, Not Advisable To Keep 2 Lots.
Happy & Safer Trading
SavantGarde
Hi Guys,
Hmmmm.....Not A Good Day......For Those Already Long.
NF Has Already Closed Below 4181.00, If On Tuesday & Wednesday NF Stays Below 4181.00, Then NF Can Slide Down By 380-440 Points....Next Couple Of Session Is Important For Those Not Having Enough Margin Of Safety.
For Those Holding BNF, Stay Long & As Per Lancer's Calendar Spread If One Is Short In August, Then Advisable To Follow What Lancer Has Stated In His Post....
Lancer<<<<< Keep A Closer Eye On IFCI & CHAMBLFERT....
Anil<<<<< Tomorrow On Rise Exit One BNF, Not Advisable To Keep 2 Lots.
Happy & Safer Trading
SavantGarde
Re: BankNifty Intraday Pivot Points
Would u advise same for me? BUT I quit IFCI today at 1.65 from 3.60 (Hugee...) -- awaiting yr advise ... thanks
Hi Guys,
Hmmmm.....Not A Good Day......For Those Already Long.
NF Has Already Closed Below 4181.00, If On Tuesday & Wednesday NF Stays Below 4181.00, Then NF Can Slide Down By 380-440 Points....Next Couple Of Session Is Important For Those Not Having Enough Margin Of Safety.
For Those Holding BNF, Stay Long & As Per Lancer's Calendar Spread If One Is Short In August, Then Advisable To Follow What Lancer Has Stated In His Post....
Lancer<<<<< Keep A Closer Eye On IFCI & CHAMBLFERT....
Anil<<<<< Tomorrow On Rise Exit One BNF, Not Advisable To Keep 2 Lots.
Happy & Safer Trading
SavantGarde
Hmmmm.....Not A Good Day......For Those Already Long.
NF Has Already Closed Below 4181.00, If On Tuesday & Wednesday NF Stays Below 4181.00, Then NF Can Slide Down By 380-440 Points....Next Couple Of Session Is Important For Those Not Having Enough Margin Of Safety.
For Those Holding BNF, Stay Long & As Per Lancer's Calendar Spread If One Is Short In August, Then Advisable To Follow What Lancer Has Stated In His Post....
Lancer<<<<< Keep A Closer Eye On IFCI & CHAMBLFERT....
Anil<<<<< Tomorrow On Rise Exit One BNF, Not Advisable To Keep 2 Lots.
Happy & Safer Trading
SavantGarde
Re: BankNifty Intraday Pivot Points
Hi Savant,
Nice to hear from you after the crash.
Alredy one long with IDFC Futures at 145 and am incurring - 40,000/- MTM. Could not cover it on decline as busy with official engagement. That is very Deep Pocket...... . But I am prepared to wait.
Got to exit before further entry to any other FNO. OR
Perhaps can think of a call on Chambalfert on dips.
Wishes,
Lancer.
Hi Guys,
Hmmmm.....Not A Good Day......For Those Already Long.
NF Has Already Closed Below 4181.00, If On Tuesday & Wednesday NF Stays Below 4181.00, Then NF Can Slide Down By 380-440 Points....Next Couple Of Session Is Important For Those Not Having Enough Margin Of Safety.
For Those Holding BNF, Stay Long & As Per Lancer's Calendar Spread If One Is Short In August, Then Advisable To Follow What Lancer Has Stated In His Post....
Lancer<<<<< Keep A Closer Eye On IFCI & CHAMBLFERT....
Anil<<<<< Tomorrow On Rise Exit One BNF, Not Advisable To Keep 2 Lots.
Happy & Safer Trading
SavantGarde
Hmmmm.....Not A Good Day......For Those Already Long.
NF Has Already Closed Below 4181.00, If On Tuesday & Wednesday NF Stays Below 4181.00, Then NF Can Slide Down By 380-440 Points....Next Couple Of Session Is Important For Those Not Having Enough Margin Of Safety.
For Those Holding BNF, Stay Long & As Per Lancer's Calendar Spread If One Is Short In August, Then Advisable To Follow What Lancer Has Stated In His Post....
Lancer<<<<< Keep A Closer Eye On IFCI & CHAMBLFERT....
Anil<<<<< Tomorrow On Rise Exit One BNF, Not Advisable To Keep 2 Lots.
Happy & Safer Trading
SavantGarde
Nice to hear from you after the crash.
Alredy one long with IDFC Futures at 145 and am incurring - 40,000/- MTM. Could not cover it on decline as busy with official engagement. That is very Deep Pocket......
. But I am prepared to wait.
Lancer<<<<< Keep A Closer Eye On IFCI & CHAMBLFERT....
Perhaps can think of a call on Chambalfert on dips.
Wishes,
Lancer.
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