Nifty MAGIC Levels For Today

[bhallaji]

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....

I wonder how you know my story!
I am still unsuccessful at trading. Any guidance shall be highly appreciated.

 

[shoby]

NIFTY MAGIC LEVEL 25.3.10
MAGIC POINTS ARE 5251 and 5203..............
Resistance & Support POINTS ARE ....... AND ........

We have two MAGIC points for Thursday......
Its buy above 5251 and sell below 5203
Thursday being settelment day we have to play very safe ,even better not to trade as it will be too volatile for small traders like us.
LVL 1)BUY NIFTY FUTURES ABOVE .5214S/L below 5194..
SELL BELOW .5192... S/L ABOVE .5212...

LVL 2) Buy NIFTY FUTURES ABOVE.5262 S/L below 5242
Sell below 5240... S/L above .5260.....

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

25th March Pivots
5156<--->5172<--->5203 <--->5251 <--->5282 <--->5313

 

[praveen taneja]

NIFTY MAGIC LEVEL 25.3.10
MAGIC POINTS ARE 5251 and 5203..............
Resistance & Support POINTS ARE ....... AND ........

We have two MAGIC points for Thursday......
Its buy above 5251 and sell below 5203
Thursday being settelment day we have to play very safe ,even better not to trade as it will be too volatile for small traders like us.
LVL 1)BUY NIFTY FUTURES ABOVE .5214S/L below 5194..
SELL BELOW .5192... S/L ABOVE .5212...

LVL 2) Buy NIFTY FUTURES ABOVE.5262 S/L below 5242
Sell below 5240... S/L above .5260.....

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

25th March Pivots
5156<--->5172<--->5203 <--->5251 <--->5282 <--->5313

between 5203 & 5251 is it no trading zone????????//

 

[shoby]

I wonder how you know my story!
I am still unsuccessful at trading. Any guidance shall be highly appreciated.

Unfortunately its not just our story....there are many acting the same script....
There are few things we need to understand...
1) Making money in market is not at all easy....we need to fully understand this basic truth....
2)Never be in the dream of making it big here....yes small profits are possible and that we have to pocket and be satisfied.....
3)trade with a system that works for you.....all trading systems work but not to all....select the one that works for you and trade with it...
4) Emotions.....we need to keep that locked up during trading time....thats number one friend of loss trades.....
5)Trade to a plan.....plan before market opening the different situations where nifty can be and plan our response....(its not that easy as we think and that is where these levels help me out.....)
Try trading with these in mind and there will be much shift in ones trading towards the better side.Best Wishes.

 

[shoby]

between 5203 & 5251 is it no trading zone????????//

Yes in a way ....also it can be buy above 5203 and sell below 5250.... but also we have buy by level 1 (buy above 5214) and sell below 5240 by Level 2 to trade between the Magic numbers.

 

[shoby]

Just see todays low.....WOW... 5204 and our Magic number is 5203...GREAT
Nifty was kind to small traders like us this expiry....gave us good entry by LVL 1 at 5214 and booked full at 5245....again long at 5252 will book at 5272 or stop at 5245...5272 never came so booked at 5261....good total 40 points on settelment day....

 

[shoby]

NIFTY MAGIC LEVEL 26.3.10
MAGIC POINTS ARE 5231 and ..............
Resistance & Support POINTS ARE .5291...... AND .5206.......

Its buy above 5231 and sell below 5231 with targets of 5291 and 5206 but for that nifty has to come to 5231 so we have the levels to trade otherwise....

LVL 1)BUY NIFTY FUTURES ABOVE 5242 S/L below 5222..
SELL BELOW .5220... S/L ABOVE .5240...

LVL 2) Buy NIFTY FUTURES ABOVE.5302 S/L below 5282
Sell below 5280... S/L above .5300.....

LVL 3) BUY above .5217......----S/L below .5197........
SELL below ...5195...----S/L above .....5215-----

26th March Pivots 5175<--->5206 <--->5231 <--->5268 <--->5291<---->5322

 

[pundit]

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....

Hi Shoby,
First of all thanks of sharing your magic levels, your are really doing a good job.

Discipline is one of the keys to success in share market, being greedy can lead you towards losses. This is very well explained in a very nice book " Come in to my trading room" by Alexander Elder .

Also we should not forget an old saying:

"Slow and steady wins the race"

Plz keep doing the good work.

 

[pundit]

I wonder how you know my story!
I am still unsuccessful at trading. Any guidance shall be highly appreciated.

Bhallaji ,
This is not your story only, many of us here are having the same story, even mine is similar , but experience teaches you a lot.

So explore the market study it, paper trade it then only put the real money..

 

[scplindia]

Shoby,

Fifty fut at 5292 level now what does your levels suggest. Is it no mans land, wait till till cross 5302 or what else pl suggest.