Urgent Help for NIFTY FUT required... :(

[suchit_bhatia]

hi guys,

need ur help... i shorted nifty futures for month of april at 3369 last week... it was expected markets will go down... but the unexpected happnd n markets rallied above 3400.. not to maximize the loss i averaged the futures at 3449... the thing is i averaged thinkin this is the max markets are expected to touch as every major website and analyst was of the view tat 3450 3500 is a major resistance for NIFTY.... also considering there will be heavy profit booking close to expiry which will pull markets down...

but now... m hearing the markets will rally above 3500 n expected to tuch 3550...

can any1 help me wat shud i do wid my open positions... i am suffering a heavy loss at present...

 

[bandlab2]

square off on monday. if you dont have margin till NIFTY 3550. maket will go down at 3550

 

[suchit_bhatia]

square off on monday. if you dont have margin till NIFTY 3550. maket will go down at 3550

thnx for the reply bandlab... do u mean market will go down after touching 3550... and where do u see the april expiry close for NIFTY... will it b below 3300 as experts predicted a few days back.. ?!?!?

 

[singhksb]

Hold ur positions u will be back with profit

 

[SavantGarde]

We Had One Glimmer OF Hope For Bears On Thursday....May Be Such Glimmers Might Become A Little Frequent...But Should Be Used To Go Long.

Popular Consensus Never Rewarded, Therefore Always Ride In The Direction Of Trend With A Trailing S/L, Utilise Any Dip To Cover Your Short & If Going Long Trail It A Little Below Previous Days Low As A Thumb Rule Or If Aware Of Supports & Resistances Then Trail It With Major Support Areas.

Fear Of What Has Been Witnessed In The Last 14 Months Will Take Time To Subside, As A Result One Will Keep Hearing Bearish Sound Bites All The Time.

Lot Of Analyst Use What I Call Horoscope Language Wherein Anything That Happens Will Always Seem True.

I Have Said This A Few Months Back Market Will Go Up More Than Everybody Expects & It Still Has Lots Of Juice Left.....This Run Is Nowhere Near The Top Yet.....So Stay With Trend If Your Account Size Is Not Very Big, Fight It If You Have Unlimited Account Size.

Happy & Safer Trading

SavantGarde

 

[MARUTIMANE]

Dear Suchit

Donot be panic market will come back to 3350 before expiry then you can get out. Please see attached chart I am using wolfe Wave for predicting market movements, and as per setup it has reached at its extrim. From here it will go sideway or big fall is expected but it will never go up timebeing.

In future while playing nifty always put stoploss donot average or opposit direction expectation. If stoploss hit donot worry you will get next chance.

Thanks and regards,

Maruti Mane

 

[gaurav0508]

I think Nifty may go up to 3625 and then come down to 3200..

 

[fast_rizwaan]

hedge your position by buying call options.

 

[suchit_bhatia]

thnx mr. maruti/guarav/singh/savant :clap:.... was lucky enuf to benefit in todays volatile market... i squared my open positions at 3440 wen markets opened... bot fresh on the rise sold at 3492... shorted at 3503 and squared off at 3480ish sumting...shorted again at the same level... nd there were cuple of trade mores... all in all was able to benefit for around 100 points in todays volatile market.. many of u may find this way of trading illogical or not a sign of pro trader... but i have just started trading... n still learning the tricks of d game... i had to get back to square one as a good amnt of money got blocked becoz of averaging...

newayz guys... thx all for d help n suggestions... mr. savants graph was a hugeeeeeee sigh of relief for me...

 

[suchit_bhatia]

hedge your position by buying call options.

hey rizwan...thnsx for d idea man..but the thing is i have no idea whatsoever of how options wrks..

can u please tell me a good book on options or options hedging strategy... i knw hedging ur stocks/futures wid options is called hybrid hedging strategy... but i have no clue abt how options works... nor do i understand wat happens wen the spot price of future or stock reaches close to strike price of ur options....whether it premium of ur option goes up or goes down... well i tried finding information on options forum on this website... but cudn find wat i wanted...... so wud b great of u if u cud suggest some book.... thnx mate..