Nifty Intraday Pivot Points

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SavantGarde

SavantGarde

Well-Known Member
#2,161
#2,161
Hi Enygma,

There Was Lots Against The Market Trend Today

a) Dow Had Not Closed Very Well
b) China & Hangseng Were Down Quite A Bit

Considering Everything In Terms Of Cues We Only Managed 4700+ Because Of Fresh Series

Chances Are We Will Retrace A Bit & Make A Dash Again Hopefully This Dash Should Be More Sustainable

GF...Is Consolidating....Good For The Market...Therefore If Banks Take The Lead For Next Upmove...Will Be Much More Desirable....:)

Happy & Safer Trading

SavantGarde

enygma said:
It turned out that D-Day arrived one day late :). However, was not much convinced by the market action in the afternoon since I thought some of that was intra-day and not short term positional short covering. Had bought a couple of 4600 calls in today's fall, sold one of the them off.

Still on the long side with one 4600 and one 4700 calls and long on GF as well. Watching GF (am talking of BNF for people wondering ...) helps in getting early market trend - often observed the general market following BNF either by half a session or one session. It is some kind of early indicator. Like today, it was mostly in positive territory even though the general market was struggling.

Regards,
Enygma.
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E

enygma

Well-Known Member
#2,163
#2,163
If you are short from 4500 levels, your MTM losses would already be in excess of 10K. If you have enough money at hand to handle more MTM losses (in case for e.g Nifty goes to 4900 levels), you can hold on to the position with the hope of squaring it closer to 4600 levels, which we might see happening during a down thrust sometime next week.

The other possibilities that I can think of salvaging your position are

- In a down thrust when Nifty is around 4620 or so, go long on the Nifty October futures. Remember October futures might not be very liquid and so always place a limit order. This will release some margin for you since you have now got into a calendar spread. Now suppose at any point in September, NF comes around 4550, square off your September short position at a loss of 50 points. You will now be long in October series, which you can square off later when Nifty is in a uptrend.

- The other possibilities is to hedge your position by buying a 4500 call.

Mr S.,

Am sure you will come up with more ideas on salvaging this position.

Regards,
Enygma.


captgolu said:
@Enygma
Sir I have short future
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T

talisman

Well-Known Member
#2,166
#2,166
enygma said:
If you are short from 4500 levels, your MTM losses would already be in excess of 10K. If you have enough money at hand to handle more MTM losses (in case for e.g Nifty goes to 4900 levels), you can hold on to the position with the hope of squaring it closer to 4600 levels, which we might see happening during a down thrust sometime next week.

The other possibilities that I can think of salvaging your position are

- In a down thrust when Nifty is around 4620 or so, go long on the Nifty October futures. Remember October futures might not be very liquid and so always place a limit order. This will release some margin for you since you have now got into a calendar spread. Now suppose at any point in September, NF comes around 4550, square off your September short position at a loss of 50 points. You will now be long in October series, which you can square off later when Nifty is in a uptrend.

- The other possibilities is to hedge your position by buying a 4500 call.

Mr S.,

Am sure you will come up with more ideas on salvaging this position.

Regards,
Enygma.
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Enygma,

I really appreciate the way you explain things. Quite elaborate and clear to the mind. Even though, I am new to many a terms/strategies discussed here but the way you explain here or in mother thread, my hazed perspective starts acquiring some new dimensions.

Thanks a Ton.

Regards,
 
docvijay4u

docvijay4u

Well-Known Member
#2,168
#2,168
With Respect To Below Comment And Intraday Pivot Point Level (4702), Today Market Witness Gap Down Opening.:thumb:

Thanks.:)

SavantGarde said:
Hi Enygma,

There Was Lots Against The Market Trend Today

a) Dow Had Not Closed Very Well
b) China & Hangseng Were Down Quite A Bit

Considering Everything In Terms Of Cues We Only Managed 4700+ Because Of Fresh Series

Chances Are We Will Retrace A Bit & Make A Dash Again Hopefully This Dash Should Be More Sustainable

GF...Is Consolidating....Good For The Market...Therefore If Banks Take The Lead For Next Upmove...Will Be Much More Desirable....:)

Happy & Safer Trading

SavantGarde
Click to expand...
 
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