Positional Call on Nifty Trade

[umeshmandal]

Nifty trades , scalping type, based on 5 min chart :
Long above 6210+ SL <6196 did high 6227 TSL 6209/6211
Short below 6209 SL 6229 did low 6198 TSL 6211
Now Long triggered above 6211 and holding Long , ESL = Below low of the day, will move rapidly up on the basis of current 5 min. candle close !

TSL now below 6202 !
TSL safe !
Add Long above 6221+
Exit Long at CMP ~6209 !
Reenter Long > 6221
or Short below < todays low. Risky short at CMP (6215.50)with 6221 as SAR
Best is to exit as close to Cost or nominal Profit/Loss and reenter later on a confirmed move. Mkt is in too narrow a band for comfort !
(Message from the person actually trading these levels)

 

[anup0212]

Trade-10: risky Trade: Go Short on fut at cmp and keep an SL of 6224 (spot) ...it is risky trade so those who cant take risk pls do not go just wait and watch...expecting some downside in NF today...tgt will be 6160 fut lvl...again keep SL intact....have a good day...

 

[wiseowl]

Sure band is narrow holding short at a edge. Desending tri fmn hope to see break out soon

 

[anup0212]

trade-10 update: Trader can book profit now risky trader can hold...profit of 50 points...see u all on monday...

 

[wiseowl]

Sl one lot mov 6200

SL HIT

 

[anup0212]

Trade-10 update. Please close the trade ...tgt of 6160+ lvl was achieved with 6165...come next week we will see new entry...risky trader can hold with sl 6200 as suggested by..wiseowl.. Have a nice weekend..

 

[anup0212]

Market view:08Nov2013: Today as currency weekening started Bank nifty also followed the suit now we might see more downside of ard 6100 to 6080 lvl in NF spot ...expecting a bounce back. Today I did not hold the position as I am not convince if 6150 will also hold or not ...on eod basis we closed below 6150 , seems fine but not convincing ...so next week we will see if NF trade below 6150 or not ...and also expected a sharp bounce back ard this lvl...but that Market will decide ....have anice weekend and see u all on monday...

 

[wiseowl]

since nifty broke the sp zone of 6180 - 6160 I feel the downside move upto 6100 / 6090 is possible. well still short on one lot .......... let the market decide, we are still learning.

nov trade

no trade posn till 06 nov due to price action
07 Nov 13 - short 6248 - sl hit 6278 - (-)60 points in 2 lots
reverse trade not taken TA did not permit
08 Nov 13 - short 6225 - 2 lots
08 Nov 13 - one lot sl hit 6200 - 25 points
08 Nov 13 - holding one lot with sl 6220

 

[wiseowl]

A gap down opening


sl moved to 6166
SL HIT REVERSE TRADE NOT TAKEN


WENT SHORT AT 6140 WITH SL 6200

 

[anup0212]

Trade-11:..Go for short @ cmp tgt expecting 6110+ lvl...sl...traders can decide by themselves....SL is sure shot loss of money for Trader and easily captured by operators...