Trading Nifty

[Gaurav Kumar]

Dear Friends,

As expected the market opened strong and has already hit 4376 in august futures. As i could not put forward a post, we consider the nifty purchased at 4330 as sold at 4350 (as promised in my post earlier today).

We are now holding one lot of nifty which we had purchased at 4530 on 23/7/07. Our position now is

Booked Profit = 8500/-
plus M to M loss on one nifty

With best wishes

Gaurav Kumar

 

[Gaurav Kumar]

Dear Friends,


Our position is as under

1.Nifty purchased at 4530 on 23/7/07 , current price 4366, M to M = -8200/-
2. Nifty purchased at 4410 on 30/07/07, sold on 31/7/07 at 4460, Net profit = 2500.
3. Nifty Sept series shorted at 4440 on 31/07/07, covered on 1/08/07 at 4340, Net profit = 5000/-
4. Nifty August series Long at 4330 on 1/8/07, Sold at 4350, Profit = 1000/-

Net position

Booked Profit = 8500/-
M TO M = -8200

Net Profit = 300/-

We have a net outstanding position on nifty future (long), with the rest of the funds available for further investment.

Tomorrow is a good day to make use of opportunities.

It does not take a genius to predict that the market would go down tomorrow.

We propose the following courses of action.

1. If the market opens down and stays down , not recovering to fill the gap within the first 5 -10 minutes, we will buy nifty future with the aim of selling it at a profit near the point where gap is filled.

2. Aternatively, if the market fills the gap in the first 5 minutes, we would wait for the market to fall and stabilise and purchase nifty future at around 1130 AM to 1200 noon, and sell it higher for a profit.

Either case, we do not intend to carry the additional nifty future position forward, so it must be squared off tomorrow. Whatever happens, we feel market should be back to around 4300 levels by the close.

With best wishes,
Gaurav Kumar

 

[milindkuyilan]

Dear Gaurav,
Waht levels are we going to see on the nifty on the upside before he end of expiry.

 

[Gaurav Kumar]

Dear Gaurav,
Waht levels are we going to see on the nifty on the upside before he end of expiry.

Dear Milindkuyilan,

We expect nifty to hit around 4500 levels at least once this month. This may take time and i would not like to commit on whether it will be the end of the month or before that (this could be after the expiry of this month's future, so call options may end up in losses, but futures can be rolled over).

From the present conditions, it seems that expiry should be over 4300 level but it is too early to commit on that. The patterns become more clear about a week before the future closing.

With best wishes,

Gaurav Kumar

 

[Gaurav Kumar]

Dear Friends,

We expect that nifty should not fal below 4285 levels (future aug series)

Any fall below that should be temporary. So we plan to buy nifty future in range on 4285-4300 and sell again at 4320 levels.

Gaurav Kumar

 

[Gaurav Kumar]

Dear Friends,
we got our nifty at 4255 and we plan to sell it at 4290.

Gaurav Kumar

 

[rkkarnani]

Dear Friends,
we got our nifty at 4255 and we plan to sell it at 4290.

Gaurav Kumar

I got it at 4271.40 (In fact I sold it at this rate with 4285.10 as SL)
It opened at 4285.

 

[Gaurav Kumar]

I got it at 4271.40
It opened at 4285.

Dear RKkarnani,

Good to see you.

The future is back from its lows and is currently at 4267. You may plan to sell your future at 4285-4290 levels.

I think that nifty shall see 4320-4340 levels in a day or two, or even more, but we can play safe.

Tracking the bottom is also an art which one improves with watching patterns. That is why i got it at 4255.


Actually you could use stop loss here (that is trailing stop loss once it crosses 4285). That may not be bad idea.

With best wishes,
Gaurav Kumar

 

[Gaurav Kumar]

Dear Friends,

The rise to about 4279 level on nifty has happened a bit faster than i expected. This may mean that the market would make another bottom, before rising.

But for the purpose of the thread since, some including my friend RKkarnani have bought nifty at 4272 levels odd, we shall stick to 4290 as my sell order.

I hope that is fair.


With best wishes,

Gaurav Kumar

 

[rbharose]

Gaurav,

I must say that your analysis is very good. I am very new in trading business and learning from your thread. Keep it coming.

Thanks
Ram