Nifty Intraday Pivot Points

[lancer]

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 ...

Holding..........IFCI Call

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Guys,

I sold off my 2 lots of BNF. I am still holding the IFCI CA 55. IFCI options opened so low that I did not feel like selling.

Lost about 75K on BNF in 3 days. But surprisingly I am not very sad.

I have now exited all positions in BNF and would re enter when a buy trigger appears on BNF and I am hoping that then I would make most of my money back.

Anil Bezawada

 

[penchant]

Re: BankNifty Intraday Pivot Points

Guys,

I sold off my 2 lots of BNF. I am still holding the IFCI CA 55. IFCI options opened so low that I did not feel like selling.

Lost about 75K on BNF in 3 days. But surprisingly I am not very sad.

I have now exited all positions in BNF and would re enter when a buy trigger appears on BNF and I am hoping that then I would make most of my money back.

Anil Bezawada

Hi Anil;
Am sorry to hear of your loss. Wish you Good luck & fast recovery of your losses.Nxt time try wth hedged position.
As of now BNF broke 50 sma & ema too.
so it would be sell on rise , rather than buy on dips. This is my understanding. RSI is yet to reach the oversold region. So more pain left in that.May be it will fill the huge gap it left on its way up. It might be a long wait for a buy signal in BNF.As of now am holding my position.
Best Wishes.

 

[penchant]

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 ...

Murtaza Bhai;
It s the same with BNF TOO.On weekly charts it s still way above the 20 wma. But point to note is that it closed last week below the previous 7 weeks low.
It is the same with NIfty weekly too. This is my observation.
RGDS.

 

[penchant]

Re: BankNifty Intraday Pivot Points

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.

SAVANT SIR & LANCER BHAI;

with today's closing BNF has become sell on rise stock.[to my limited understanding.]
So - should my strategy be to sell my long on rise & buy it back- keeping my short in tact. Plz; advice.
Thanx & rgds.

 

[SavantGarde]

Re: BankNifty Intraday Pivot Points

Hi Penchant,

Strategy For Selling On Rise Should Be Ok Till Friday....Things May Change Next Week Sometime.....& At Some Point Exit July Long For August.
If You Have Intraday Charting...It Will Be Better

Happy & Safer Trading

SavantGarde

SAVANT SIR & LANCER BHAI;

with today's closing BNF has become sell on rise stock.[to my limited understanding.]
So - should my strategy be to sell my long on rise & buy it back- keeping my short in tact. Plz; advice.
Thanx & rgds.

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Savant Sir,

In the chart below, Bank NIfty has closed below 20SMA and 50 SMA on the daily chart. More over, bolinger bands seem to indicate a range break out on the lower side. Is it a good time to go short on BNF?

Also, What would be a good trigger to re enter a long position on BNF

Regards
Anil Bezawada

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Hi Anil;
Am sorry to hear of your loss. Wish you Good luck & fast recovery of your losses.Nxt time try wth hedged position.
As of now BNF broke 50 sma & ema too.
so it would be sell on rise , rather than buy on dips. This is my understanding. RSI is yet to reach the oversold region. So more pain left in that.May be it will fill the huge gap it left on its way up. It might be a long wait for a buy signal in BNF.As of now am holding my position.
Best Wishes.

Hi Penchant,

thanks a lot for the wishes.

Even I am new to reading charts. As far as I understand it appears that we can go short on BNF. But as usual will do what ever Savant Sir advises.

Thanks
Anil

 

[SavantGarde]

Re: BankNifty Intraday Pivot Points

Hi Anil,

While It May Have Closed Below 20/50 SMA, It May Not Be Prudent Or Advisable To Go Short, Considering It Pierced The Lower BB, Therefore In All Probability You Might See Quite A Jump Tomorrow....Therefore Shorting For Intraday Tomorrow Should Only Be Considered On The Following Criteria:

a) If Upper BB Is Touched Followed By A Red Bar
b) Bearish Crossover Of 4/5 SMA

Happy & Safer Trading

SavantGarde

Savant Sir,

In the chart below, Bank NIfty has closed below 20SMA and 50 SMA on the daily chart. More over, bolinger bands seem to indicate a range break out on the lower side. Is it a good time to go short on BNF?

Also, What would be a good trigger to re enter a long position on BNF

Regards
Anil Bezawada

 

[penchant]

Re: BankNifty Intraday Pivot Points

Hi Penchant,

Strategy For Selling On Rise Should Be Ok Till Friday....Things May Change Next Week Sometime.....& At Some Point Exit July Long For August.
If You Have Intraday Charting...It Will Be Better

Happy & Safer Trading

SavantGarde

Savant Sir;
Thanq, Sir.
I will do as adviced by you.
I do have a limited access to intra day charts[brokers] where i can see the cross over & BB . But my prob. is that i can't be at the screen all the time .-as i tend to babies- & will hve to attend to them often.
Even so ; i did trade once yesterday by buying low august & selling a little higher.- made abt 40 points in that trade.
But as of now , it seems yesterday's low of 6525 around may hold for today also.
Will try to trade again today for some more points.
rgds.