Swing Trading for Nifty Futures

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kthakker0

Well-Known Member
30/06/2012 Saturday

Hi all,

Our PM has started to clean the mess created by Pranab and the broom in his hand has been saluted by our market in a very cheerful way.

On 25/06/2012 Monday when NF breached 5201 it was written that the new target was 5313 which was nearly achieved on Friday 29/06/2012.

Now 5313 is a very potent level and closing above it may be difficult for some time. NF should find support at lower levels like 5246-5235.

Monday's range is 5313-5235 Trading above 5313 the levels are 5391, 5372-77, 5352 and 5333 On lower side my target is 5264-76

An open gap is at 5383 that needs to be closed and along with 5391 is a perfect area to book profit for longs.


Bye
 

kthakker0

Well-Known Member
01/07/2012 Sunday

Hi all,

Below mentioned are some interesting facts about our PM and Sonia. (And what a shame to become a PM of such stature)

Singh has been pretty powerless for eight years as Prime Minister. And that will not change one whit after he becomes finance minister, because all real power is wielded by Sonia Gandhi.

Sonia is not much interested in economic reform. She believes elections are won not by economic growth but by welfare schemes (like NREGA), giveaways (like the 2008 farm loan waiver) and job reservations. She thinks this strategy won her re-election in 2009, and finds little reason to change it.

Sonia at 10 Janpath-take all the key decisions. Singh can propose, but Sonia disposes. The Congress is a Gandhi fiefdom, so members carefully downplay Singh's importance. They see him as a mere transitional official, preparing the ground for Rahul, the Gandhi princeling, to sit on the throne.

Note: If Rahul (the Howard student who was dropped out within 3 months) becomes PM of India just imagine how sorry will be our state. If Rahul cannot complete his studies what else can he complete...?

Singh is happy to play this low-key role. Seen in this light, he is better called a regent (Rahul's Substitute) than a Prime Minister.

Those who don't understand this are unhappy with his lack of assertiveness as Prime Minister. But a non-assertive regent is exactly what Sonia wants. This explains why he has lasted so long.

Note: How can a PM be so loyal to one person and ignore the whole country (India). (Only true Freedom Fighter are loyal to one's own country) So Anna Hazera is and was right in inducting PM in Lok Pal bill. As people like ManMohan Singh can ruin India.

All the major reforms pushed in the last eight years, but has been persistently overruled by 10 Janpath. The problem has never been the lack of conviction or enthusiasm , but a lack of political power.

Sonia is unenthusiastic about liberalization.

Note: It seems that Sonia does not want India to be a self sustaining and respected country for reasons best know to her.

Unlike in 1991 where India was facing BOP crisis, now there are many problems, but no crisis . And in the absence of a crisis, politics always trumps economics.

Congress has taken a beating in elections in UP, Tamil Nadu, Bihar, Punjab and elsewhere. Congress has been thrashed in by-elections in Andhra Pradesh by a new regional party. It fears being toppled by unreliable allies before its term ends in 2014.

So, Sonia and 10 Janpath are focused on survival, not reform. Given the chance of an early election, they do not want to risk reforms that produce winners in the long run but alienate even a few losers in the short run, since elections are won and lost on swings of 1-2 % of the popular vote. Doing nothing is seen as less risky than purposive reform.

So, the economic policy paralysis that critics castigate is no aberration: it is political policy. Singh's assumption of the finance portfolio will not change that.

Summary
Unless and until Congress is Ruling India and with Sonia as it's President (Who takes all the decisions) India's rating and fortune will always be negative, whenever Congress comes to power, you name it and that thing or cost of that service has risen. But India never rises, no matter how hard the common man tries, he/she and India's are always short in their respective budget's.

When was the last time we have seen any SURPLUS in our Home or India's Budget. Deficit is the most common word in the every one's Budget speech

Its time to think and ponder as to what type of people should be leading India. Do we need Loyal's or Do we need Hard liners who not only dares to question the superiors but also take tough decisions in favor of India and Indian's as and when required.
 

kthakker0

Well-Known Member
03/07/2012 Tuesday

Hi all,

It has become the order "That business direction given under any ruling Gov is a cruse for any and all market"

Why can't the gov be a catalyst for business or so to ask which political party has the mega will to give Indian businessmen the required feathers so as to determine its own sky limit and flourish without any political compulsion and without any one person dictating our country's fate.

Once in a year have to undergo the torture of listening to the whole budget speech full of nothing short of crap with always rising taxes and huge deficit as a big black cherry and then we have to pick those news which relates to us like rage pickers.

All our markets are full of eminent personalities and all those personalities have the ability to run mega business, but still at times an illiterate fool is soo divinely blessed that all those mega personalities have to leave everything aside and just listen to him so that business can run according to his / her wishes.

Any way...

NF not touching 5276 signifies it's internal positive sentiments, but which is not that strong.

Today's range is 5313 - 5373 (Trading bias should be on the higher side)

For me NF trading between 5377-5391 is the grey area to go short.

When I'll see high on opening or during any trading day at above levels it's the best time to go short.

NF on daily basis is inching over to OB zone and incidentally an open gap has been created at 5150 level which will be closed very soon then expected. (This are my assumptions, whereas market always has it's own way's of dogging most of our theories)

Bye
 

kthakker0

Well-Known Member
03/07/2012 Tuesday

Hi all,

Above 5313 our next level was 5333 which was achieved today and since NF is inching towards OB zone with each passing day it cannot sustain the higher levels, due to this we are fortunate enough to make money by going short on every higher level (as forecasted) on intraday basis and cover as per the lower levels / range.

The overall positive sentiment in the market is providing support at lower levels which gives us the perfect opportunity to reap decent profit.

My target to go short at 5377-5391 is still valid, now it remains to be seen that weather will we be able to go short at those levels are or will the market tank down before reaching that zone. NF trading above 5391 has the tendency to reach 5402-5410 (A sure level to go short)

  1. 5377 is 79% Fibonacci ratio of 5542-4760 swing
  2. 5383 is the open gap created on 03/04/2012 which will be closed.
  3. 5391 is one of our potent level which can be used to square up all our long and go short
  4. 5402-5410 are some of the tops achieved on different trading days in the past.
Tomorrow's range is 5352 - 5273 with bias to reach / breach 5333 and NF sustaining above 5333 should reach 5352

5273 has become a good support zone for now.


Bye
 

kthakker0

Well-Known Member
03/07/2012 Tuesday

Hi all,

Above 5313 our next level was 5333 which was achieved today and since NF is inching towards OB zone with each passing day it cannot sustain the higher levels, due to this we are fortunate enough to make money by going short on every higher level (as forecasted) on intraday basis and cover as per the lower levels / range.

Bye)
30/06/2012 Saturday

Hi all,

Now 5313 is a very potent level and closing above it may be difficult for some time.

Bye
04/07/2012 Wednesday

Hi all,

Yesterday and Today NF posted a High on opening and later reached lower levels during the day, this perfect opportunity have been used to mint money both the day's in both ways, first by going short at 5330 and covering at lower levels and then going long at lower levels.

5333 is becoming a tough resistance level as of now. Only breaching and sustaining above 5333 will we see 5352 level and other higher levels.

Today's close above 5313 has signaled that breakout has happened. Will this breakout sustain at higher levels needs to be seen.

Tomorrow's range is 5313 - 5273

Bye
 

kthakker0

Well-Known Member
08/07/2012 Sunday

Hi all,

By now we all know that we have to sell at the high levels and book profits at lower levels. And probably this strategy might be followed by many traders.

And we again minted by following the same strategy on Friday (sell high buy low) and have earned decent profits.

Tomorrow's range is 5352 - 5313 with 5347 as the trend setter.

Europe and US were down on Friday so we assume that Indian market will follow the same patter here as our market is in highly OB zone.

Monday's could either...
  • Open lower or
  • Open higher
No matter what the opening is on Monday one thing is for certain, that if Thursday's high of 5355 is not breached then the fall has began or might have already started from Thursday.

We know our levels and we will have our SL which are strict in nature so there is nothing that can stop us from profiting.

Bye
 

kthakker0

Well-Known Member
08/07/2012 Sunday

Time magazine dubs PM Manmohan Singh as 'underachiever'

Read what the world is taking about Dr ManMohan Singh (Is he still the leader of ruling gov)

Some of the highlighters are...
  • "Unwilling to stick his neck out" on reforms that will put the country back on growth path.
  • Report is titled 'A Man in Shadow' (Our PM in shadows, is an open secret)
  • He seems unable to control his ministers and -- his new, temporary portfolio at the Finance Ministry notwithstanding -- unwilling to stick his neck out on reforms that will continue the process of liberalisation he helped start."
  • "Laws that could help create growth and jobs are stuck in Parliament"
http://economictimes.indiatimes.com...ngh-as-underachiever/articleshow/14744220.cms

FM is a temporary office of our PM so we can't expect positive news from here as PC name is whispered in corridors of Parliament as the next FM.

No matter what the gov says to deceive us, people around the world are not fools, sooner or later every one comes to know the real thing.

What effect will this report have on our market while the bitter taste of GAAR and retrospective changes in regards to tax still lingers on FII's tongue.

So our strategy and aim is perfect. We earn as much as we can and when ever we can.

Bye
 

kthakker0

Well-Known Member
15/07/2012 Sunday

Hi all,

The fall did not happen from 5391 or above levels but from 5352 and those who went short @ 5352 levels would have definitely made money without any regret. Although intraday trend is difficult to predict, but over all it was a down trend.

When external forces (Politician and Bureaucrats) poke their dirty smelling mouth in matters related to Indian economy by their bizarre comments, the markets are set to wobble out of control, and that's what precisely happened on 10/07/2012 Tuesday. Traders were cut in and out of proportion. But again levels have come in handy for me and all those we follow them.

Till the President Election is over the market may see volatile trading sessions so any forecasts will be incorrect.

We should see buying at many lower supportive levels as weekly and monthly momentum indicators are rising but daily indicators are falling.

My target is again 5156 - 5133

NF is in-between two levels 5235 and 5273. Lets see where does the market takes the trend this time.


Bye
 

kthakker0

Well-Known Member
16/07/2012 Monday

Hi all,

Traders who knows the trend and the levels always wins and intraday activity is the best situated for them.

Today's open and low of 5175 indicates that market is inching towards our goal (5156 -5133) in an inverted way. This type of activity confuses all those who are ignorant and impatient.

And as said NF is finding support at lower levels but higher levels are not holding up, so in this situation we trade both the way's.

Today we got two opportunity to go short at higher levels and cover at lower where support was evident.

Tomorrow's range is 5235-5156 with bias in lower side.

Bye
 

kthakker0

Well-Known Member
17/07/2012 Tuesday

Hi all,

Yesterday's party continued today as well and I have not only enjoyed increasing my bank balance but am overjoyed as well.

Lower intraday bias and the higher levels not holding their ground were a know reality and NF trading at higher levels was a perfect opportunity to add or go short.

Congress party is a shameful batch of bast@#$ because even after promising Lok Pal bill its still not delivered and the same goes with inflation, Indians are crying about high prices in each and every category but Congress has again proved himself an impotent batch of laggards who don't care for India or Indians, and it may be for this reason that our RBI governor, today had to kick their ass in a most sarcastic but happy way by giving an example of how much his hair cutting cost has increased while his hair has decreased over a period of time.

Has RBI taunted any ruling party like this before? I guess not.

05/06/2012 Tuesday

Hi all,

RBI not long ago hinted that interest rates cannot be reduced because of high inflation.

Majority of the analysts are of the opinion that even if interest rate are reduced the falling rupee has already taken the heat out of the system and RBI even if it wants to cannot reduced and even if it does reduces the rate it will not have any meaningful impact on the system.
So in the above pretext RBI has again told India in clear cut terms that please don't talk about interest rate cut as long as inflation is beyond our comfort zone.

On the light of the above know fact the market may hold on till Presidential Election is over and there after a new trend should emerge.

Tomorrow's range is 5273 - 5195 with bias still on the lower side.

Fibonacci levels of 5364-4760 swing are
23.0% 5225
38.2% 5133
50.0% 5060
61.8% 4990

38.2% is the most common level where market trades before it decides to change or continue with the on going trend.

So till the market gives us any signal of any kind we will follow our levels and the known trend. So do keep earning as much as you can and as long as you can.


Bye
 
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