Nifty MAGIC Levels For Today

[shoby]

25*50=1250/-
is not it enough for covering all expenses???????/

S S S I have gone through all in trading and I know definitely 20x50 is many many times better than -20X50 ....

 

[shoby]

See experience will teach us many things in life....I fully understand when some one asks me why you trading for 20-25 points....some time back I also would not have done trades for such "SILLY profits"....I needed a minimum 5k then months passed i was ready for 2.5k... then again time passed on and i was ready for 1k then I was ready for anything other than LOSS....alas I was making losses after losses....now loss has been kept at minimum nd seeing profits.......now ready for even 5 point profit trades if its guranteed ...heheheeeeee thats life for average person....(if you r special,gifted person these dont count for you)......not trying to discourage anyone....just sharing my "experiments" with trading....

 

[shoby]

NIFTY MAGIC LEVEL 19.3.10
MAGIC POINTS ARE 5225 and ...............
Resistance & Support POINTS ARE 5267....... AND 5167...

LVL 1)BUY NIFTY FUTURES ABOVE 5236 S/L below 5216
SELL BELOW 5214 S/L ABOVE 5234

LVL 2) Buy NIFTY FUTURES ABOVE 5278 S/L below 5258
Sell below 5256... S/L above ..5276....

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


19th March Pivots
5119<--->5167<--->5198<--->5225<--->5267 <--->5298

 

[shoby]

I covered short at cost now.....can short again only if days low is broken...short at 5250 and covered at 5255......will buy at 5271 or sell at 5248 for final showdown.....Useless....... booked at 5276 when nifty came down fron highs...atleast could keep the slate clean....

 

[sujittalukder]

Dear shoby,
could you expalin how do you calcualte the levels and the trading rule based on the figures you provide?
Regards
Sujit

 

[shoby]

NFTY MAGIC LEVEL 22.3.10
MAGIC POINTS ARE 5258 and ...............
Resistance & Support POINTS ARE 5292....... AND 5197...

Its buy above 5258 with target of 5292 and sell below 5258 with target of 5197.....

But nifty has to come near 5258 to trade so we have the levels below to trade otherwise....

LVL 1)BUY NIFTY FUTURES ABOVE 5269 S/L below 5249
SELL BELOW 5247 S/L ABOVE 5267

LVL 2) Buy NIFTY FUTURES ABOVE 5303 S/L below 5292
Sell below 5292... S/L above ..5203....

LVL 3) BUY above 5208----S/L below 5188....
SELL below 5186-----S/L above 5206-----


22nd March Pivots
5166<--->5197<--->5258<--->5292 <--->5323 <--->5354

Today we have news driven Gap-Down opening because of surprise RBI action....though street expected the increase ,just the timing was a surprise...so we need to be very careful and better dont jump into trades too soon if its too volatile....

 

[shoby]

Short at 5257 below the magic number and covered at 5232....25 points is good enough...
Nifty after gap-down, inched towards our Magic level of 5258 to hit a high of 5259.90 and then started falling...its sell below 5258 and so it was sold at 5257 s/l 5268 and I covered it at 5232 to pocket 25 points but nifty kept on drifting down to close at 5207 ....Magic gave 50 points...

 

[shoby]

Morning gap-down scared me of a good trade of buy above 5208 by LVL 3 which gave 50 points ....then the short trade from Magic which gave 50 points....very bad took only 25 points from the 100 points the levels gave....market has the mind of its own,...its a waste when we try to determine where market will go....today morning after gapdown I thought that the low will be retested and missed the first trade....second trade was done correctly but booked early....but then 25 is better than -25 heheheeeee

 

[shoby]

NIFTY MAGIC LEVEL 23.3.10
MAGIC POINTS ARE 5173 and ...............
Resistance & Support POINTS ARE 5253....... AND 5112...
Its buy above 5173 with target of 5253 and sell below 5173 with target of 5112.....
But nifty has to come near 5173 to trade so we have the levels below to trade otherwise....

LVL 1)BUY NIFTY FUTURES ABOVE 5184 S/L below 5164
SELL BELOW 5162 S/L ABOVE 5142

LVL 2) Buy NIFTY FUTURES ABOVE 5264 S/L below 5244
Sell below 5242... S/L above ..5262....

LVL 3) BUY above 5123----S/L below 5103....
SELL below 5101-----S/L above 5121-----


23rd March Pivots
5112<--->5142<--->5173 <--->5204 <--->5253 <--->5284

 

[shoby]

See our LVL2 ....we have sell below 5242 and the high till now is 5241.90 hit in the opening candle....thats all nifty could do this first hour of trading....
11.35.....Booked half at 4221 which was short at 5241 ....my my 2.5 hrs for 20 points ....
1.22 ......Boooked balance at 5201 ...now we have to wait to see which level nifty will take for next trade...