Nifty MAGIC Levels For Today

[shoby]

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.

Hi! Just now only saw ur post....very difficult markets....I am long as per our levels at 5303 with s/l 5282... first trade stopped...only thing i will be doing is take some more at high.... if this trade also stops thats it for me today ....will be double edged stops day...
Closed the second trade at cost....will long above 5305 or sell below 5282 only

 

[pundit]

Hi! Just now only saw ur post....very difficult markets....I am long as per our levels at 5303 with s/l 5282... first trade stopped...only thing i will be doing is take some more at high.... if this trade also stops thats it for me today ....will be double edged stops day...

Dear Shobby,
Trade stopped means, you went long at 5302 and then squared off your position?

Plz elaborate.

 

[shoby]

Dear Shobby,
Trade stopped means, you went long at 5302 and then squared off your position?

Plz elaborate.

Dear Pundit,see first trade was by level 2 where there is sell below 5280 and stoploss was 5300....The second trade was long at 5303 with S/L 5282 which was closed at cost.... When we enter a trade we need to have a stoploss to put a limit to the damage a trade can do to our pocket if the trade goes against us.Its a must and no trade should be done without a stoploss.

 

[shoby]

NIFTY MAGIC LEVEL 29.3.10
MAGIC POINTS ARE 5278 and ..............
Resistance & Support POINTS ARE .5316...... AND .5226.......

Its buy above 5278 and sell below 5278 with targets of 5316 and 5226 but for that nifty has to come to 5278 so we have the levels to trade otherwise....

LVL 1)BUY NIFTY FUTURES ABOVE 5289 S/L below 5269.. SELL BELOW 5267... S/L ABOVE 5287...

LVL 2) Buy NIFTY FUTURES ABOVE.5327 S/L below 5307
Sell below 5305... S/L above 5325.....

LVL 3) BUY above 5237-S/L below .5217........
SELL below ...5215...----S/L above .....5235-----


29th March Pivots
5164<--->5195 <--->5226 <--->5278 <--->5316<---->5347

 

[pundit]

Dear Pundit,see first trade was by level 2 where there is sell below 5280 and stoploss was 5300....The second trade was long at 5303 with S/L 5282 which was closed at cost.... When we enter a trade we need to have a stoploss to put a limit to the damage a trade can do to our pocket if the trade goes against us.Its a must and no trade should be done without a stoploss.

Dear Shobby,
I am very well aware of stoploss, but actually i did not understand your words " trade stopped" but now I think it means stoploss hit.

Am I right?

 

[miscos]

Dear all,
"LVL 2) Buy NIFTY FUTURES ABOVE.5327 S/L below 5207
Sell below 5305... S/L above 5325..... " should be read as "LVL 2) Buy NIFTY FUTURES ABOVE.5327 S/L below 5307
Sell below 5305... S/L above 5325....." . I assume it is a typo error, Shoby!.

 

[shoby]

Dear all,
"LVL 2) Buy NIFTY FUTURES ABOVE.5327 S/L below 5207
Sell below 5305... S/L above 5325..... " should be read as "LVL 2) Buy NIFTY FUTURES ABOVE.5327 S/L below 5307
Sell below 5305... S/L above 5325....." . I assume it is a typo error, Shoby!.

Yes sir thanks for pointing out the error.....I have corrected it.:thumb:

 

[shoby]

Hi! Magic Point did work...It was buy above 5278 and the low was 5279.40.....but my order was at 5279 and it was not hit....so bought at 5290 by LVL1 (buy above 5289) and booked at 5315....25 points in 25 minutes is good going....
Second trade was buy above 5327 by LVL 2 .....gave much hopes as it galloping to my target sell of 5348 but 5344 was all it scaled before crashing to my TSL of 5331 which happens to be below the trendline and so just fed my broker....
Again the MAGIC number of 5278 showed its strength....low for the day was 5279.40 made in the opening minutes of trade.....

 

[praveen taneja]

Hi! Magic Point did work...It was buy above 5278 and the low was 4279.40.....but my order was at 5279 and it was not hit....so bought at 5290 by LVL1 (buy above 5289) and booked at 5315....25 points in 25 minutes is good going....

Is it 5279.40

 

[shoby]

NIFTY MAGIC LEVEL 30.3.10
MAGIC POINTS ARE 5287 and ..............
Resistance & Support POINTS ARE 5351...... AND 5246.......

Its buy above 5287 and sell below 5287 with targets of 5351 and 5246 but for that nifty has to come to 5287, so we have the levels to trade otherwise....
LVL 1)BUY NIFTY FUTURES ABOVE 5298 S/L below 5278.. SELL BELOW 5276... S/L ABOVE 5296...

LVL 2) Buy NIFTY FUTURES ABOVE.5362 S/L below 5342
Sell below 5340... S/L above 5360.....

LVL 3) BUY above 5257......----S/L below .5237........
SELL below ...5235...----S/L above .....5255-----


30th March Pivots
5215<--->5246 <--->5287 <--->5308 <--->5351<---->5382