Nifty Intraday Pivot Points

[SavantGarde]

Keerthi,

In Short...You Paid Dearly...Because Of Your Impatience...

Read My Post Again & Again....Till You Understand The Meaning Of Each Every Word Written In There......I Am Not In The Habit Of Rambling.

Happy & Safer Trading

SavantGarde

SavantGarde,

Thanks for your reply & I will adhere the same in future.

From yesterday midnight to to-day evening, No power in my house so I could not trade from my resisdence. During trading time,I called my broker asked about NF movements. Reply was from 4960 to 4925 & again moving upwards in morning time. Considering S4 level (4923) gave order to buy 2lot of NF call 4900 series of 29Oct09. He bought 59.40. Instructed to sell when NF moves closer to 4960 (S4 & days open & higer also). Then market was in different mood & levels coming down very fast. I was expecting some recovery back late noon but finally at 3.28pm sold 1 lot at 18.30 & holding 1 lot for to-morrow, 28th. For a capital 10k, big loss to-day already Rs.2155 with brokerage for 1 lot.

This is a lession learned trading without having support of TA indicators just depended on price movement. I paid price for my negligence of rules / stratagy. So many things to be learned / go thro' to sustain in market.

Now I am holding 1 lot of NF Oct call & looking for reducing further loss. Kindly give me some idea to come out from this crisis with a balance capital of 7.2k. I have confident about your ideas & pray to get from your end.

Thanks & regards,
Keerthi

 

[prasadam]

dear all nifty traders.

A small suggestion from my side.

1. day traders => use the pivot points supplied by SG. If you don't know how to trade using pivot points, then please learn it. There are some posts by Enygma, Dr. vijay and SG. If you can't find them, there are atleast 5 threads in this forum, where no. of posts are less so that digging can be easy.

2. short term traders => Just follow the short term triggers. Your position should have been short after 20th Oct. when SG has given sell signal and still in sell hold now. Inspite of it, if you are long and expect SG to convert it into profit, then ....

3. Long term traders => Just follow the long term triggers, if and only if you can meet M2M requirements.

please don't expect SG to baby walk you in all your trades.

Think of his position.
a) his own trading b) 6 active threads and c) the duties as a moderator of the forum.

just think. is it wise on our part to pester him with queries ?

 

[enygma]

Seems like it is one of those days when I tend to ramble, so please take this as advice from someone who has perhaps seen more of the markets and what it is capable of. I agree 100% with Prasadam but would like to add a few points more

- Does a surgeon do an operation without electricity? What makes us think that trading is not any different from what a surgeon does? Would we give instructions to a nurse on phone?

- Are the markets going to stop trading from tomorrow, that everyone wants to put in their scarce capital into it today only? Look at the profits that the short term triggers here give, so is there any harm in waiting for the short term trigger to turn to buy?

- Even for the long term guys with deep pockets, not having deep trailing S/L's is a sin, especially if you are sitting in front of a terminal and watching your profits go away.

- Nobody, including Savant, can predict exactly what the market will do in the short term or intraday and even if they can, they cannot do realtime communication with us. Please have a plan before you enter any trade, including a stop loss and when to exit and stick to that plan.

Just anguished to see a bunch of retail money going down the drain - which is what Savant's selfless service to all of us tries to prevent.

Regards,
Enygma.

SavantGarde,

Thanks for your reply & I will adhere the same in future.

From yesterday midnight to to-day evening, No power in my house so I could not trade from my resisdence. During trading time,I called my broker asked about NF movements. Reply was from 4960 to 4925 & again moving upwards in morning time. Considering S4 level (4923) gave order to buy 2lot of NF call 4900 series of 29Oct09. He bought 59.40. Instructed to sell when NF moves closer to 4960 (S4 & days open & higer also). Then market was in different mood & levels coming down very fast. I was expecting some recovery back late noon but finally at 3.28pm sold 1 lot at 18.30 & holding 1 lot for to-morrow, 28th. For a capital 10k, big loss to-day already Rs.2155 with brokerage for 1 lot.

This is a lession learned trading without having support of TA indicators just depended on price movement. I paid price for my negligence of rules / stratagy. So many things to be learned / go thro' to sustain in market.

Now I am holding 1 lot of NF Oct call & looking for reducing further loss. Kindly give me some idea to come out from this crisis with a balance capital of 7.2k. I have confident about your ideas & pray to get from your end.

Thanks & regards,
Keerthi

 

[cbosein]

Seems like it is one of those days when I tend to ramble, so please take this as advice from someone who has perhaps seen more of the markets and what it is capable of. I agree 100% with Prasadam but would like to add a few points more

- Does a surgeon do an operation without electricity? What makes us think that trading is not any different from what a surgeon does? Would we give instructions to a nurse on phone?

- Are the markets going to stop trading from tomorrow, that everyone wants to put in their scarce capital into it today only? Look at the profits that the short term triggers here give, so is there any harm in waiting for the short term trigger to turn to buy?

- Even for the long term guys with deep pockets, not having deep trailing S/L's is a sin, especially if you are sitting in front of a terminal and watching your profits go away.

- Nobody, including Savant, can predict exactly what the market will do in the short term or intraday and even if they can, they cannot do realtime communication with us. Please have a plan before you enter any trade, including a stop loss and when to exit and stick to that plan.

Just anguished to see a bunch of retail money going down the drain - which is what Savant's selfless service to all of us tries to prevent.

Regards,
Enygma.

Enygma & Prasadam,

Thanks for your advise. I am happy that senior members (You, Prasadam, SG, ....) are taking care of new members & guiding them & put back in right track when ever we are moving out of track. Proud about this thread.

Thanks again to all senior members for their extended support.

Regards,
Keerthi

 

[Prabhan]

I am really sad today...again Prabhanshu is on track of loosing his money and confidence..!!!
2Lot Oct MNF at 5006. CMP 4840 ==> Loss: 6640
1Lot Nov MNF at 4890. CMP 4854 ==> Loss: 720
1Lot Nov 5300CE at 18. CMP 17 ==> Loss: 50

Hoping more downside tomorrow..so Oct futues is for sure shot in Loss. Dont know at what level should I book my losses in Oct futures...

Only Hope left is Nov future and call option. Again...bought call option at higher price inspite sirjee said that we can get this at the price lower than his range..that price I think we can get it tomorrow. May buy 1 more lot of this call tomorrow.

 

[Prabhan]

hi savantji,

today bought sbin futures around 2317 and sold at 2328

then bought nifty nov future 2 lots around 4985 and closed one lot around 5043 by seeing ur msg i kept one lot positional ji

Hi Kalyanisalem,
Did you trade anything today...Now its habit to read your smart trades...dint find any post today from you so was just curious...

 

[cbosein]

SavantGrade,

a) I lot NF call 4900 Oct09 series (holding from yesterday @59.40) to be covered to-day itself or hold (if price is to low) it for to-morrow (last day)?

b) Is your instruction yesterday to buy CE 5400 or 5300 Nov series is hold good for to-day also?

Based on your advise I will act. Kindly advise after market opens to-day.

Sorry for troubling you too much. My faith on your advise forced to post this mail. Please excuse.

Regards,
keerthi

 

[kalyanisalem]

Hi Kalyanisalem,
Did you trade anything today...Now its habit to read your smart trades...dint find any post today from you so was just curious...

sorry no current in evening so cant update..

Morning went long in oct nifty future around 4936 and close at 4955

and as said by sirji short if any rise so i short around 4954 and close it around 4890.

bought positional call of 5300 ce and 5400 ce of nov around 16 and 9.



current position
Nifty Nov around 5000
NIfty 5300 ce and 5400 ce

 

[Prabhan]

2Lot Oct MNF at 5006. CMP 4840 ==> Loss: 6640
1Lot Nov MNF at 4890. CMP 4854 ==> Loss: 720

Sirjee,
Can you please suggest at what level I should come out of Oct MNF longs..
What shall be the lowest level as per you for this expiry?

Sirjee...please guide...

 

[SavantGarde]

Hi Keerthi,

Positional Means Its A HOLD Till I Give The Exit Range...

And Exit Of The CALLs...Are Not Going To Happen Till Atleast 7th November,

Therefore, If You Want To Recover The Money You Lost Yesterday, I Suggest Sit Tight With This Position....

As A Positional Trader Things Sometimes Might Look Boring...But Then There Is Always Time To Observe Various Aspects Of The Market....& Learn New Things...For Me Too Everyday Is A New Learning Experience.

Happy & Safer Trading

SavantGarde

SavantGrade,

a) I lot NF call 4900 Oct09 series (holding from yesterday @59.40) to be covered to-day itself or hold (if price is to low) it for to-morrow (last day)?

b) Is your instruction yesterday to buy CE 5400 or 5300 Nov series is hold good for to-day also?

Based on your advise I will act. Kindly advise after market opens to-day.

Sorry for troubling you too much. My faith on your advise forced to post this mail. Please excuse.

Regards,
keerthi