Nifty Intraday Pivot Points

[lancer]

Re: BankNifty Intraday Pivot Points

'JAI BABA'

Hi Savant,

1.Recouped 12,000/- MTM losses today on IDFC Futures. Hanging on to it.

2. IFCI CA 60 ends the day @ 1.0 ( PP 4.30 ). Hanging on to it.

3. Nifty closes above your support level of 4180. To watch out whether it manages to sustain tommorrow above the same level.

4.Now the most vital point, The experts on channels keep harping on double shoulder pattern and filling up gaps with the target of 3800 Nifty. That is bloody scary. What is your learned opinion on this further downfall even if Nifty manages to sustain above 4180 for acouple of days ?

Lancer.

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Savant Sir,

Did not get any opportunity to trade today. It is status quo with respect to BNF. I did pick up one lot of IFCI CA 55 @ Rs 1.9 premium.

Sir even I am very anxious whether Nifty will drop to 3800 levels. Please share your views.

Regards
Anil

 

[penchant]

Re: BankNifty Intraday Pivot Points

Savant Sir;
Still holding the calender spread- as BNF is mkg lower his & higher lows.will close my short once it brks out of this inside bar situation.
Thanx & Rgds.

 

[SavantGarde]

Re: BankNifty Intraday Pivot Points

'JAI BABA'


Hi Lancer,

Our Markets Should Be Tracking Global Cues For This Week, Therefore Keep An Eye On U.S. Markets & Also Dow Futures In The Afternoon Our Time On Bloomberg....DOW Cow Is Down Almost 136 Pts. Doesn't Look Very Good For Us In The First Session....Can't Say Anything Yet About The Second Session

While It Is True That NF Closed Above 4181.00 It Looked Quite Laborious...

Looks Like A Trading Week For Now.



Penchant<<<< Hold Your Calendar Spread For Now...You May Have To Hold It Till The End Of This Week....


Anil<<<<<< In The Second Half If The Market Goes Up Then Square Off One BNF....

Happy & Safer Trading

SavantGarde

 

[penchant]

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.

Hi Lancer;
Today also BNF closed traded & below 20 M.A.
So It doesn't seem to be an aberration.
To my limited kowledge it lks like a reversal. May be it s a good idea for me to carry the calender spread till BNF shows a clear cut direction. Today it formed an inside bar.
I must admit my knowledge in T.A. is very rudimentary.But it lks like it would be safe to carry my short along wth my long position as of now.
Your Views will be appreciated.
Thanx.

 

[penchant]

Re: BankNifty Intraday Pivot Points

'JAI BABA'


Hi Lancer,

Our Markets Should Be Tracking Global Cues For This Week, Therefore Keep An Eye On U.S. Markets & Also Dow Futures In The Afternoon Our Time On Bloomberg....DOW Cow Is Down Almost 136 Pts. Doesn't Look Very Good For Us In The First Session....Can't Say Anything Yet About The Second Session

While It Is True That NF Closed Above 4181.00 It Looked Quite Laborious...

Looks Like A Trading Week For Now.



Penchant<<<< Hold Your Calendar Spread For Now...You May Have To Hold It Till The End Of This Week....


Anil<<<<<< In The Second Half If The Market Goes Up Then Square Off One BNF....

Happy & Safer Trading

SavantGarde

SIR;
Am much obliged.
rgds

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Thank u sir. I will look for a rise and sell one lot.

Sir, any thoughts on the IFCI 55 CA lot. I can hold it for couple of weeks or a little more. Do you think I should hold it?

Regards
Anil Bezawada

 

[SavantGarde]

Re: BankNifty Intraday Pivot Points

Guys,

IFCI 55 CALL Keep A S/L Of 1.40

Happy & Safer Trading

SavantGarde

 

[lancer]

Re: BankNifty Intraday Pivot Points

Hi Lancer;
Today also BNF closed traded & below 20 M.A.
So It doesn't seem to be an aberration.
To my limited kowledge it lks like a reversal. May be it s a good idea for me to carry the calender spread till BNF shows a clear cut direction. Today it formed an inside bar.
I must admit my knowledge in T.A. is very rudimentary.But it lks like it would be safe to carry my short along wth my long position as of now.
Your Views will be appreciated.
Thanx.

Hi Penchant,

What I stated is book your profit/ cover on the short. Now you have some cash in your account.

Go short again and hold till thare is a trend reversal or book profit again on a dip of 100 points.

Go short yet again to keep on hedging your position till the downtrend is clear.

That is how you keep your losses under control and also make profitable trades in an uncertain market. And avoid a whipsaw.

BTW the brokerage is minimal in Futures.

This trick works but I am in my office during the trading hours.

Happy Trading,

Lancer.

 

[MurAtt]

Re: BankNifty Intraday Pivot Points

@Savant Sir,
Just wanted to know one thing -- On the Weekly NFut charts, NF still way too high over the 20EMA (Weekly). So unless n until the NF goes below 20EMA (Weekly) are we still looking at a trend not turned bearish?

@Lancer
IFCI call? Status.

I am holding ITM 4100 puts with OTM 4300calls as hedge ...