Nifty MAGIC Levels For Today

[shoby]

Friends Very sorry...I had everything by 8.30 but by mistake clicked "preview" button instead of "post" and it was visible on my screen so thought its posted here....TXS myno444 ..only seeing ur message i realised the mistake....but may be blessing in disguise as Nifty is in very big resistance area....so be carefull

 

[nallan]

NIFTY MAGIC LEVEL 30.4.10

MAGIC POINTS ARE 5270 and 5238...

Resistance & Support POINTS ARE ... AND ...

For 30th we have two Magic numbers.So its buy above and sell below these Magic numbers...

LVL 1)BUY NIFTY FUTURES ABOVE 5281.... S/L below 5261.. SELL BELOW 5259... S/L ABOVE 5279


LVL 2) Buy NIFTY FUTURES ABOVE 5249 .S/L below 5229.... Sell below 5227... S/L above 5247......



LVL 3) BUY above --S/L below ....
SELL below .. S/L above ...

30th APRIL Pivots

5176<-->5207<-->5238<-->5270<-->5300<-->5331

May I know the meaning of level 1 and level 2. I am new to all this terminology. pardon for ignorance and request clarification so that i also can benefit from your magic. Thanks in advance!

 

[shoby]

Dear Nallan...the Magic point is just strong support or resistance points . Some times it wil not actually come exactly to that point because of strong buying or selling or sometimes it will just test the point and retraces....so the Levels are just a filter to be safe from whipsaws .For example today nifty opened below 5270 but by LVL 1 sell is below 5259 and see the low is 5261.We have to also see realtime nifty movement as market progresses...we have buy above 5281 by LVL 1 but the high of the day is 5290 so unless that is taken out we should not go long ...

 

[nallan]

Dear Nallan...the Magic point is just strong support or resistance points . Some times it wil not actually come exactly to that point because of strong buying or selling or sometimes it will just test the point and retraces....so the Levels are just a filter to be safe from whipsaws .For example today nifty opened below 5270 but by LVL 1 sell is below 5259 and see the low is 5261.We have to also see realtime nifty movement as market progresses...we have buy above 5281 by LVL 1 but the high of the day is 5290 so unless that is taken out we should not go long ...

Dear Sir,
Thanks for prompt response.
let me summarise what I understood!

Nifty opened at 5281. It is a buy signal. but if it goes down to 5259 level.
so it causes selling pressure. but when it crosses up on 5259, level 2 comesinto picture?
Still I am not clear. may be my level of thinking is far below you guys. But i have to make a beginning one day or other. as already i am doing dtrading. mostly deleivery segment. but after learning, i wish to go to options
Thanks again for your response!

 

[shoby]

Dear Nallan,Here by nifty we are talking of nifty futures...because its that we are trading...

 

[nallan]

Dear Nallan,Here by nifty we are talking of nifty futures...because its that we are trading...

Dear Mr Shoby,
Nfty futures are in the round figures of sae Nifty May futures CE at 5200, 5250, etc, and similarly PE side also same.

From your answer, I understood, buy nifty future CE or PE, when nifty is touching the levels indicated. ?

Am i correct?

Pardon me for my ignorance.

 

[shoby]

Dear Dear Nallan... right now you stick to your positional trades alone...These CE,PE options are too complicated and easiest way to see your portifolio vanish....so trade these only when you understand it well....you study these things for minimum 6 months before you start trading...

 

[nallan]

Dear Dear Nallan... right now you stick to your positional trades alone...These CE,PE options are too complicated and easiest way to see your portifolio vanish....so trade these only when you understand it well....you study these things for minimum 6 months before you start trading...

Dear Shoby,

i am just doing this trial and paper trade. I am returnig home ( india in august) most probabbly i attend some classes on fno and enter. now i am learning from learned people like you.

 

[praveen taneja]

Dear Shoby,

i am just doing this trial and paper trade. I am returnig home ( india in august) most probabbly i attend some classes on fno and enter. now i am learning from learned people like you.

If you are doing paper trade then bro go for strangle and straddle trades of opions and paper trade with keep an eye on exit point like if you buy 5300 call and put or 5200 put and 5300 call when mkt at 5240-5260 range what should be ur exit strategy when to book loss in one to let other grow in profit:thumb:
All the best god bless us all

 

[shoby]

NIFTY MAGIC LEVEL 3.5.10
MAGIC POINTS ARE 5282 and 5244...
Resistance & Support POINTS ARE ... AND ...



For 3rd we have two Magic numbers only.So its buy above and sell below these Magic numbers...

LVL 1)BUY NIFTY FUTURES ABOVE 5293.... S/L below 5273.. SELL BELOW 5271... S/L ABOVE 5291



LVL 2) Buy NIFTY FUTURES ABOVE 5255 .S/L below 5235.... Sell below 5233... S/L above 5253......


LVL 3) BUY above --S/L below ....
SELL below .. S/L above ...


3rd MAY Pivots
5182<-->5213<-->5244<-->5282<-->5313<-->5344