Nifty Intraday Pivot Points

[SavantGarde]

Re: BankNifty Intraday Pivot Points

Hi Murtaza,

Since July Is A Relatively Fresh Series, ATM CALLS Should Give Good Returns, Provided This Downside Doesn't Continue Beyond Wednesday.

Happy & Safer Trading

SavantGarde

Would u advise same for me? BUT I quit IFCI today at 1.65 from 3.60 (Hugee...) -- awaiting yr advise ... thanks

 

[SavantGarde]

Re: BankNifty Intraday Pivot Points

'JAI BABA'

Hi Lancer,

Didn't Know You Had A Lot Of IDFC....Anyways, Let Me Know How It Goes.

Happy & Safer Trading

SavantGarde

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.

 

[lancer]

Re: BankNifty Intraday Pivot Points

'JAI BABA'

Hi Lancer,

Didn't Know You Had A Lot Of IDFC....Anyways, Let Me Know How It Goes.

Happy & Safer Trading

SavantGarde

'JAI BABA'

Hi Savant,

Actually IDFC got me profits of 20K yesterday and got hold it in the early hours on the news of Infrastructure emphasis by Govt. budget. BTW the bar graph highs are holding above 20 EMA on EOD charts.

Did not go for IFCI as already holding one lot CALL 60 strike price.

Let me see how it goes next couple of days.

Lancer.

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Savant Sir

It has been a bad couple of weeks. Lost some 25K last week and made up most of it based on your advice on IFCI. Thankfully I closed it on friday and booked profits. Today I made a loss of 52K on two lots of BNF . I so rue the fact that I did not put a stop loss.

In the morning I went long on one lot of BNF at 7600 When I saw the market going up. Then suddenly the market started to crash and i sold the 2 lots at 7525 and went short on 2 lots.

At around 7400 market reversed a bit this is where I thought the market would pick up and hence sqauerd my short and went long on 2 lots again at 7435. The big mistake I did was I did not keep a stop loss. And with in 5 minutes the price came down to 7220. And before I could place a sell order it went down to 7110 and then 7057. All in 10 mins.

After that it did fluctuate a bit but I was not sure if it was advisable to close it with so much loss so I held on and incurred more losses.

Just one mistake and i ended up with a loss of 52K i could have been actually riding 52K profit. But I think that is how fate is, cant help it.

As you advised I will square off one lot at a rise tomorrow and hold on to the other lot. Sir should I pick up IFCI options at the current levels?

Regards
Anil Bezawada

 

[lancer]

Re: BankNifty Intraday Pivot Points

'JAI BABA'

Hi Savant,

The EOD chart for BNF is attached and the bars hold above 20 EMA. Going by your tech analysis, today appears to an aberation and the uptrend is intact.

I picked this up from your post in a thread, where you had stated that the uptrend of NF is intact if the EOD bars hold above 20 EMA. QED !

Can the same funda be applied to to other stocks and equities, besides application of 5/6 SMA and 9,2 BB to take a more longish view beyond intraday trading? Does it answar the question of Anil above ?

Lancer.

 

[SavantGarde]

Re: BankNifty Intraday Pivot Points

'JAI BABA'

Hi Lancer,

I Was Also Trying To Pour Over The Charts...Looks Like We May Not Go Down At All Tomorrow....Hopefully Todays Low Will Hold.

Hi Anil,

Hold Your BNF Lots, You Only Exit One When You Have Atleast 100 Point Profit...& 2nd Lot HOLD

Trades You Described, Are Typical Of Panic Stricken.....Don't Be In A Hurry To Try & Recoup, Cause That Can Make You Loose Even More In The Process.
Stay With Positional Trades & Never More Than 1 Lot.

Now Coming To IFCI, If You Can Get The 55 CALL At A Decent Price, Only Then You May Enter Or Leave It Alone For Now, Till You Are Able To Exit 1 Lot BNF With Decent Profit....

Happy & Safer Trading

SavantGarde

 

[penchant]

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.

Lancer;
Thank you.

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Savant Sir,

I will hold on to the BNF lots. The LTP of IFCI CA @55 is Rs 2.3. Can I pick it up below Rs. 2.5. Would that be an OK price.

Regards
Anil Bezawada

 

[penchant]

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

Thank You; Sir!!

 

[lancer]

Re: BankNifty Intraday Pivot Points

Lancer;
Thank you.

Penchant,

Welcome.

But please do not get into the habit of holding two lots with calender spread. It is only meant for exigencies.


Inorder to manage this trick you need a lot juggling act or you may end up with the short end of the stick.

Lancer